Magna International Inc. (NYSE:MGA) Position Increased by LRI Investments LLC

LRI Investments LLC increased its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 2,126.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 757 shares of the company’s stock after acquiring an additional 723 shares during the period. LRI Investments LLC’s holdings in Magna International were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. ARGA Investment Management LP increased its position in Magna International by 158.1% during the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after buying an additional 1,568,953 shares during the last quarter. Russell Investments Group Ltd. increased its position in Magna International by 52.3% during the fourth quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after buying an additional 822,375 shares during the last quarter. Geode Capital Management LLC increased its position in Magna International by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after buying an additional 371,437 shares during the last quarter. Mufg Securities Canada LTD. increased its position in Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after buying an additional 172,754 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Magna International by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company’s stock worth $10,000,000 after buying an additional 14,441 shares during the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Stock Up 2.1%

Shares of MGA opened at $37.13 on Wednesday. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.63 and a beta of 1.52. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. Magna International Inc. has a 12 month low of $30.39 and a 12 month high of $48.18. The company has a 50-day moving average price of $34.43 and a two-hundred day moving average price of $38.99.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The business had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 EPS. Equities analysts predict that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Friday, May 16th. Magna International’s dividend payout ratio (DPR) is currently 48.50%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MGA shares. Evercore ISI lowered their target price on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley lowered their target price on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Bank of America downgraded shares of Magna International from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th. Royal Bank of Canada lowered their price target on Magna International from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 6th. Finally, TD Securities raised their price target on Magna International from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Magna International currently has an average rating of “Hold” and an average price target of $42.13.

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.