SG Americas Securities LLC Reduces Stake in Magna International Inc. $MGA

SG Americas Securities LLC reduced its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 68.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,307 shares of the company’s stock after selling 37,324 shares during the quarter. SG Americas Securities LLC’s holdings in Magna International were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in MGA. Integrated Wealth Concepts LLC lifted its stake in shares of Magna International by 19.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after buying an additional 1,123 shares in the last quarter. Parallel Advisors LLC raised its holdings in Magna International by 115.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock valued at $96,000 after acquiring an additional 1,338 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after acquiring an additional 1,136 shares in the last quarter. Steph & Co. bought a new position in shares of Magna International in the second quarter worth $167,000. Finally, Kendall Capital Management purchased a new position in shares of Magna International in the second quarter valued at $327,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Evercore ISI boosted their price target on shares of Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a research report on Monday, November 24th. Wells Fargo & Company upped their price target on shares of Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. Royal Bank Of Canada lifted their price objective on Magna International from $47.00 to $48.00 and gave the company a “sector perform” rating in a research note on Monday, November 3rd. Finally, Scotiabank boosted their target price on Magna International from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Magna International currently has an average rating of “Hold” and an average target price of $52.07.

Magna International Stock Performance

NYSE:MGA opened at $53.63 on Wednesday. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 14.65 and a beta of 1.50. The business has a 50 day moving average of $52.11 and a 200 day moving average of $47.54. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.83. Magna International Inc. has a 1-year low of $30.39 and a 1-year high of $57.55.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.24 by $0.09. The firm had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. On average, sell-side analysts predict that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, November 14th. Magna International’s dividend payout ratio (DPR) is presently 53.01%.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.