Magna International Inc. $MGA Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. reduced its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 8.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 403,351 shares of the company’s stock after selling 34,943 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Magna International were worth $21,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MGA. Community Bank N.A. acquired a new position in Magna International during the third quarter worth about $29,000. EverSource Wealth Advisors LLC grew its holdings in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares during the period. IFC & Insurance Marketing Inc. acquired a new position in Magna International during the fourth quarter worth about $49,000. Atlas Capital Advisors Inc. acquired a new position in Magna International during the fourth quarter worth about $67,000. Finally, Danske Bank A S acquired a new position in Magna International during the third quarter worth about $112,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGA has been the topic of a number of research analyst reports. Raymond James Financial lifted their target price on Magna International from $50.00 to $75.00 and gave the stock a “market perform” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their target price on Magna International from $71.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Veritas raised Magna International to a “strong-buy” rating in a report on Monday, May 4th. Scotiabank raised Magna International from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $69.00 to $72.00 in a report on Friday, April 24th. Finally, The Goldman Sachs Group decreased their price target on Magna International from $60.00 to $52.00 and set a “sell” rating for the company in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.19.

Magna International Trading Down 0.1%

NYSE:MGA opened at $66.66 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. Magna International Inc. has a 1-year low of $36.74 and a 1-year high of $69.94. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 0.91 and a beta of 1.43. The stock has a fifty day simple moving average of $62.00 and a 200 day simple moving average of $57.81.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the company posted $0.78 EPS. Magna International’s revenue for the quarter was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Sell-side analysts forecast that Magna International Inc. will post 6.87 earnings per share for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.0%. Magna International’s dividend payout ratio (DPR) is 82.85%.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.