Insider Selling: Magna International (TSE:MG) Insider Sells C$2,818,471.43 in Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider John Hugh Farrell sold 31,523 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total value of C$2,818,471.43. Following the completion of the transaction, the insider owned 50,020 shares of the company’s stock, valued at C$4,472,288.20. The trade was a 38.66% decrease in their ownership of the stock.

Magna International Stock Performance

TSE MG opened at C$89.35 on Friday. The business’s 50-day moving average price is C$82.03 and its 200 day moving average price is C$77.78. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. Magna International Inc. has a twelve month low of C$48.50 and a twelve month high of C$95.18. The company has a market capitalization of C$24.70 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 0.45 and a beta of 2.05.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings results on Friday, May 1st. The company reported C$1.92 EPS for the quarter. The company had revenue of C$14.43 billion during the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%. On average, research analysts predict that Magna International Inc. will post 8.8948171 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were given 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 2.2%. Magna International’s dividend payout ratio is 82.28%.

Analyst Ratings Changes

A number of brokerages have weighed in on MG. Veritas upgraded shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Finally, Canadian Imperial Bank of Commerce raised Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$61.00.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.