Toronto Dominion Bank Has $67.43 Million Stock Holdings in Magna International Inc. (NYSE:MGA)

Toronto Dominion Bank boosted its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,609,223 shares of the company’s stock after purchasing an additional 30,361 shares during the quarter. Toronto Dominion Bank owned 0.56% of Magna International worth $67,426,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MGA. JARISLOWSKY FRASER Ltd raised its stake in Magna International by 5.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock worth $299,543,000 after buying an additional 395,745 shares during the period. Russell Investments Group Ltd. lifted its stake in Magna International by 35.5% in the first quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after buying an additional 289,105 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Magna International by 616.1% during the second quarter. Quantbot Technologies LP now owns 132,688 shares of the company’s stock worth $5,560,000 after acquiring an additional 114,160 shares in the last quarter. Azimuth Capital Investment Management LLC increased its position in shares of Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after acquiring an additional 53,695 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Magna International by 202.7% during the first quarter. BNP Paribas Financial Markets now owns 26,298 shares of the company’s stock worth $1,433,000 after acquiring an additional 17,611 shares during the period. Institutional investors own 67.49% of the company’s stock.

Analyst Ratings Changes

MGA has been the subject of a number of research reports. Morgan Stanley lowered their target price on Magna International from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. BMO Capital Markets decreased their price objective on Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Wolfe Research restated an “underperform” rating on shares of Magna International in a research note on Thursday, September 5th. TD Securities reduced their price target on Magna International from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Evercore lowered their price objective on shares of 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 issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $51.12.

Magna International Stock Up 1.4 %

Shares of NYSE MGA opened at $42.78 on Wednesday. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.65 and a beta of 1.59. 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 12 month low of $38.01 and a 12 month high of $60.32. The stock has a 50-day moving average price of $41.45 and a two-hundred day moving average price of $45.30.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $11.01 billion. Magna International had a return on equity of 12.53% and a net margin of 2.29%. Magna International’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.50 earnings per share. As a group, analysts forecast that Magna International Inc. will post 5.5 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Friday, August 16th. Magna International’s payout ratio is 53.98%.

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.