Sunbelt Securities Inc. Grows Stake in Magna International Inc. (NYSE:MGA)

Sunbelt Securities Inc. increased its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 2,179.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 547 shares of the company’s stock after purchasing an additional 523 shares during the period. Sunbelt Securities Inc.’s holdings in Magna International were worth $30,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after buying an additional 526 shares in the last quarter. S.A. Mason LLC grew its stake in Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares in the last quarter. Parallel Advisors LLC increased its holdings in Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Magna International by 576.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,079 shares of the company’s stock worth $182,000 after purchasing an additional 2,624 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Magna International by 11.7% during the 4th quarter. Van ECK Associates Corp now owns 3,995 shares of the company’s stock valued at $236,000 after purchasing an additional 419 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.

Magna International Trading Up 0.8 %

MGA opened at $41.90 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.09. The stock’s 50 day moving average price is $45.40 and its 200-day moving average price is $51.59. Magna International Inc. has a one year low of $40.83 and a one year high of $65.27. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.54 and a beta of 1.62.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a return on equity of 12.96% and a net margin of 2.35%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 EPS. On average, equities analysts forecast that Magna International Inc. will post 5.83 EPS for the current year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a $0.475 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.90 dividend on an annualized basis and a yield of 4.53%. Magna International’s dividend payout ratio is currently 53.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Raymond James reduced their target price on Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a report on Monday, May 6th. StockNews.com cut Magna International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. National Bankshares cut their target price on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a report on Monday, May 6th. TD Securities decreased their price target on shares of Magna International from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Finally, The Goldman Sachs Group lowered their price objective on shares of Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $59.81.

About Magna International

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.