Public Employees Retirement System of Ohio Takes $1.04 Million Position in Magna International Inc. (NYSE:MGA)

Public Employees Retirement System of Ohio bought a new position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 25,320 shares of the company’s stock, valued at approximately $1,040,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in shares of Magna International in the third quarter valued at $32,000. Grove Bank & Trust raised its position in Magna International by 70.4% in the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after purchasing an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after buying an additional 513 shares during the period. Tobam boosted its stake in shares of Magna International by 94.3% in the 3rd quarter. Tobam now owns 4,373 shares of the company’s stock valued at $179,000 after buying an additional 2,122 shares during the period. Finally, Arkadios Wealth Advisors acquired a new position in shares of Magna International during the third quarter worth about $216,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MGA has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday. Scotiabank lifted their price objective on shares of Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday, November 4th. Morgan Stanley lowered Magna International from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $55.00 to $43.00 in a report on Wednesday, September 25th. Royal Bank of Canada cut their price target on Magna International from $42.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. Finally, TD Securities lowered their price objective on Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.65.

Magna International Stock Performance

NYSE MGA opened at $41.28 on Friday. The business’s 50-day moving average price is $43.41 and its 200 day moving average price is $42.47. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market cap of $11.86 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.83 and a beta of 1.61. 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 released its earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same period in the previous year, the firm posted $1.46 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts expect that Magna International Inc. will post 5.22 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Friday, November 15th. Magna International’s payout ratio is 50.80%.

Magna International 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.