Tom Rucker Joerg Sells 39,210 Shares of Magna International (TSE:MG) Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Tom Rucker Joerg sold 39,210 shares of Magna International stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$92.58, for a total value of C$3,630,061.80. Following the transaction, the insider owned 31,633 shares of the company’s stock, valued at C$2,928,583.14. This represents a 55.35% decrease in their ownership of the stock.

Magna International Stock Performance

Shares of TSE MG opened at C$92.13 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. Magna International Inc. has a 12 month low of C$49.65 and a 12 month high of C$96.00. The stock has a 50 day moving average of C$83.94 and a 200-day moving average of C$78.61. The company has a market capitalization of C$25.08 billion, a P/E ratio of 38.87, a P/E/G ratio of 0.45 and a beta of 2.19.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, May 1st. The company reported C$1.92 EPS for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The company had revenue of C$14.43 billion during the quarter. As a group, equities research analysts predict that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, May 15th. Magna International’s payout ratio is currently 82.28%.

Analysts Set New Price Targets

MG has been the subject of several research reports. Scotiabank raised Magna International from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Canadian Imperial Bank of Commerce raised Magna International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Finally, Veritas raised Magna International to a “strong-buy” rating in a report on Monday, May 4th. Four analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Magna International has a consensus rating of “Buy” and a consensus target price of C$61.00.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.