Sciencast Management LP Purchases Shares of 15,615 Magna International Inc. (NYSE:MGA)

Sciencast Management LP purchased a new stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the 4th quarter, Holdings Channel.com reports. The fund purchased 15,615 shares of the company’s stock, valued at approximately $653,000.

Several other large investors have also added to or reduced their stakes in MGA. 1620 Investment Advisors Inc. raised its position in shares of Magna International by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock valued at $328,000 after buying an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after buying an additional 301 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after buying an additional 312 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after buying an additional 600 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of Magna International during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MGA shares. UBS Group reduced their price objective on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Raymond James reduced their price objective on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 18th. CIBC reduced their price objective on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Bank of America cut shares of Magna International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th. Finally, Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.03.

Magna International Trading Up 0.8 %

MGA stock opened at $36.47 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. Magna International Inc. has a twelve month low of $33.30 and a twelve month high of $54.98. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65. The firm’s fifty day simple moving average is $38.45 and its two-hundred day simple moving average is $41.00.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. The firm had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 earnings per share. As a group, analysts anticipate that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.485 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend was Friday, February 28th. Magna International’s payout ratio is currently 55.27%.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.