Magna International Inc. (NYSE:MGA) Shares Will Pay Quarterly Dividend of $0.49

Magna International Inc. (NYSE:MGA) (TSE:MG) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Friday, November 13th will be given a dividend of $0.4950 per share on Friday, November 27th. This represents a $1.98 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, November 13th.

Magna International has decreased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Magna International has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Magna International to earn $7.84 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 25.3%.

Magna International Price Performance

Magna International stock opened at $61.35 on Wednesday. The company’s 50 day simple moving average is $64.49 and its 200-day simple moving average is $62.94. The company has a market capitalization of $15.85 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.46. Magna International has a 1 year low of $45.33 and a 1 year high of $73.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.14.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, October 30th. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.25. The company had revenue of $9.86 billion for the quarter, compared to analyst estimates of $10.01 billion. Magna International had a net margin of 1.99% and a return on equity of 16.26%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, equities research analysts expect that Magna International will post 7.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MGA. ARGA Investment Management LP increased its holdings in shares of Magna International by 11.0% in the 3rd quarter. ARGA Investment Management LP now owns 4,030,060 shares of the company’s stock valued at $256,706,000 after purchasing an additional 397,793 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Magna International by 4.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,183,383 shares of the company’s stock valued at $139,269,000 after acquiring an additional 84,978 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Magna International by 10.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company’s stock valued at $134,577,000 after acquiring an additional 206,433 shares during the period. Amundi boosted its stake in shares of Magna International by 4.2% during the 2nd quarter. Amundi now owns 1,781,357 shares of the company’s stock worth $117,778,000 after acquiring an additional 71,927 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after acquiring an additional 107,150 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

Magna International is a Canadian mobility technology supplier that designs and manufactures components, systems and complete vehicles for automakers. Its products and services support a range of vehicle types, including those with electric and advanced driver-assistance technologies. The company’s operations include body and exterior systems, seating, powertrain and electronics, as well as vehicle engineering and contract manufacturing. Its portfolio also includes products such as mirrors, lighting systems and roof systems.