Sienna Gestion Raises Stock Holdings in Magna International Inc. (NYSE:MGA)

Sienna Gestion grew its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 13.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,091 shares of the company’s stock after acquiring an additional 700 shares during the quarter. Sienna Gestion’s holdings in Magna International were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sunbelt Securities Inc. boosted its stake in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. LRI Investments LLC acquired a new stake in shares of Magna International during the first quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Magna International during the second quarter worth about $28,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Magna International in the 1st quarter valued at about $49,000. Finally, EverSource Wealth Advisors LLC raised its stake in Magna International by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after acquiring an additional 319 shares during the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Stock Performance

Shares of MGA stock opened at $42.52 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.12. The stock has a market cap of $12.22 billion, a PE ratio of 12.08, a P/E/G ratio of 0.60 and a beta of 1.59. Magna International Inc. has a 1 year low of $38.01 and a 1 year high of $60.32. The stock has a fifty day moving average price of $41.61 and a 200 day moving average price of $45.68.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.11). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. Magna International’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts forecast that Magna International Inc. will post 5.58 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.47%. Magna International’s dividend payout ratio (DPR) is 53.98%.

Analyst Upgrades and Downgrades

MGA has been the topic of several analyst reports. Citigroup lowered their target price on Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Wolfe Research reiterated an “underperform” rating on shares of Magna International in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut their price objective on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Barclays lowered their target price on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Finally, TD Securities cut their price target on shares of Magna International from $57.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.06.

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.