Sienna Gestion Boosts Stock Position in Magna International Inc. (NYSE:MGA)

Sienna Gestion boosted its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 13.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,091 shares of the company’s stock after purchasing an additional 700 shares during the period. Sienna Gestion’s holdings in Magna International were worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGA. Quantbot Technologies LP purchased a new stake in shares of Magna International in the first quarter valued at $1,009,000. Forsta AP Fonden grew its holdings in Magna International by 20.4% in the 1st quarter. Forsta AP Fonden now owns 64,800 shares of the company’s stock valued at $3,533,000 after buying an additional 11,000 shares during the period. LRI Investments LLC purchased a new stake in Magna International in the 1st quarter valued at about $36,000. BNP Paribas Financial Markets increased its stake in shares of Magna International by 202.7% during the 1st quarter. BNP Paribas Financial Markets now owns 26,298 shares of the company’s stock valued at $1,433,000 after acquiring an additional 17,611 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Magna International by 35.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock worth $60,118,000 after acquiring an additional 289,105 shares during the period. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGA. CIBC dropped their price target on shares of Magna International from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Citigroup dropped their price objective on Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, July 12th. BNP Paribas upgraded Magna International from a “neutral” rating to an “outperform” rating in a report on Monday, July 1st. Wolfe Research reissued an “underperform” rating on shares of Magna International in a research report on Thursday, September 5th. Finally, Evercore cut their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.06.

Magna International Trading Up 3.0 %

NYSE MGA opened at $42.52 on Friday. The stock has a market cap of $12.22 billion, a P/E ratio of 12.08, a PEG ratio of 0.60 and a beta of 1.59. The company’s fifty day simple moving average is $41.61 and its 200-day simple moving average is $45.68. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. Magna International Inc. has a 52 week low of $38.01 and a 52 week high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a net margin of 2.29% and a return on equity of 12.53%. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the previous year, the company earned $1.50 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. Equities research analysts predict that Magna International Inc. will post 5.58 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.475 per share. The ex-dividend date was Friday, August 16th. This represents a $1.90 annualized dividend and a yield of 4.47%. Magna International’s dividend payout ratio is presently 53.98%.

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.