Mediolanum International Funds Ltd Acquires 61,151 Shares of Magna International Inc. $MGA

Mediolanum International Funds Ltd lifted its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 83.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,736 shares of the company’s stock after buying an additional 61,151 shares during the period. Mediolanum International Funds Ltd’s holdings in Magna International were worth $7,210,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MGA. EverSource Wealth Advisors LLC increased its position in shares of Magna International by 35.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in Magna International by 2.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock valued at $439,000 after purchasing an additional 215 shares during the last quarter. Van ECK Associates Corp boosted its position in Magna International by 2.6% during the fourth quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock valued at $486,000 after purchasing an additional 235 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Magna International by 1.8% in the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock valued at $675,000 after purchasing an additional 246 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its stake in Magna International by 7.3% in the fourth quarter. Arkadios Wealth Advisors now owns 4,767 shares of the company’s stock valued at $254,000 after purchasing an additional 324 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MGA. Citigroup upped their price objective on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. TD boosted their target price on shares of Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company dropped their price target on shares of Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. UBS Group increased their price target on shares of Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Scotiabank lifted their price objective on shares of Magna International from $72.00 to $74.00 and gave the company a “sector outperform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.73.

Magna International Price Performance

NYSE:MGA opened at $66.06 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $64.74 and its two-hundred day moving average price is $60.26. The firm has a market capitalization of $17.67 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 0.90 and a beta of 1.44. Magna International Inc. has a 12-month low of $40.51 and a 12-month high of $69.94.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, May 1st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, analysts anticipate that Magna International Inc. will post 6.86 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.98 annualized dividend and a yield of 3.0%. Magna International’s dividend payout ratio (DPR) is currently 82.85%.

Magna International Profile

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.