AGF Management Ltd. Sells 157,165 Shares of Magna International Inc. (NYSE:MGA)

AGF Management Ltd. lessened its holdings in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 68.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,430 shares of the company's stock after selling 157,165 shares during the period. AGF Management Ltd.'s holdings in Magna International were worth $3,069,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in Magna International by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 12,290 shares of the company's stock worth $517,000 after acquiring an additional 766 shares in the last quarter. Strengthening Families & Communities LLC increased its holdings in Magna International by 10.7% in the 3rd quarter. Strengthening Families & Communities LLC now owns 43,484 shares of the company's stock worth $1,785,000 after acquiring an additional 4,209 shares in the last quarter. Quantbot Technologies LP increased its holdings in Magna International by 12.5% in the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company's stock worth $6,128,000 after acquiring an additional 16,639 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in 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. Finally, ARGA Investment Management LP purchased a new stake in Magna International in the 3rd quarter worth approximately $40,710,000. Institutional investors own 67.49% of the company's stock.

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Analyst Upgrades and Downgrades

MGA has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, December 16th. Wolfe Research raised shares of Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. The Goldman Sachs Group lowered shares of Magna International from a "neutral" rating to a "sell" rating and cut their price objective for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. UBS Group cut their price objective on shares of Magna International from $44.00 to $41.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Scotiabank cut their price objective on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating for the company in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Magna International presently has a consensus rating of "Hold" and an average target price of $47.03.

Magna International Trading Down 2.4 %

MGA traded down $0.86 during trading on Thursday, reaching $35.51. The company had a trading volume of 2,033,490 shares, compared to its average volume of 1,681,534. The stock has a market cap of $10.02 billion, a P/E ratio of 10.12, a PEG ratio of 0.63 and a beta of 1.65. The business has a 50 day simple moving average of $39.09 and a 200-day simple moving average of $41.28. Magna International Inc. has a 52 week low of $33.30 and a 52 week high of $56.12. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The company had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. During the same period last year, the company earned $1.33 earnings per share. Magna International's revenue was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.46%. This is an increase from Magna International's previous quarterly dividend of $0.48. The ex-dividend date is Friday, February 28th. Magna International's dividend payout ratio (DPR) is 55.27%.

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.