Quantbot Technologies LP Trims Stock Holdings in Magna International Inc. (NYSE:MGA)

Quantbot Technologies LP lessened its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 97.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,201 shares of the company’s stock after selling 145,126 shares during the quarter. Quantbot Technologies LP’s holdings in Magna International were worth $176,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MGA. ARGA Investment Management LP grew its stake in Magna International by 158.1% in the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after purchasing an additional 1,568,953 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Magna International by 117,113.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after acquiring an additional 84,322 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Magna International by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after acquiring an additional 32,000 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Magna International by 35.5% during the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock valued at $4,719,000 after acquiring an additional 29,567 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Magna International during the third quarter worth $1,040,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Price Performance

Shares of Magna International stock opened at $34.00 on Monday. Magna International Inc. has a 52 week low of $33.30 and a 52 week high of $54.36. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a market cap of $9.58 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65. The company’s 50-day moving average price is $38.03 and its two-hundred day moving average price is $40.88.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The business had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 earnings per share. As a group, sell-side analysts anticipate that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.485 per share. The ex-dividend date was Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.71%. Magna International’s payout ratio is 55.27%.

Analyst Ratings Changes

A number of brokerages have weighed in on MGA. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Evercore ISI cut their target price on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley lowered their target price on Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Royal Bank of Canada cut their price target on Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their target price on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.03.

Magna International Company Profile

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.