Amundi Reduces Stake in Magna International Inc. (NYSE:MGA)

Amundi decreased its position in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 489,521 shares of the company's stock after selling 67,996 shares during the quarter. Amundi owned 0.17% of Magna International worth $19,742,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Toronto Dominion Bank raised its position in shares of Magna International by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company's stock valued at $66,810,000 after buying an additional 18,704 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Magna International by 12.5% during the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company's stock worth $6,128,000 after buying an additional 16,639 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Magna International by 35.5% in the fourth quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company's stock valued at $4,719,000 after buying an additional 29,567 shares in the last quarter. DGS Capital Management LLC grew its position in Magna International by 111.0% in the fourth quarter. DGS Capital Management LLC now owns 21,048 shares of the company's stock valued at $880,000 after acquiring an additional 11,072 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Magna International by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company's stock worth $46,799,000 after acquiring an additional 32,000 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts have weighed in on the stock. TD Securities cut their target price on shares of Magna International from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada lowered their price target on shares of Magna International from $52.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, February 18th. Barclays lowered their price objective on Magna International from $50.00 to $47.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered shares of Magna International from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Finally, UBS Group dropped their price target on Magna International from $44.00 to $41.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $47.03.

Magna International Stock Performance

MGA traded up $0.97 during trading on Friday, hitting $36.45. 1,677,639 shares of the company traded hands, compared to its average volume of 1,683,360. Magna International Inc. has a one year low of $33.30 and a one year high of $56.12. The stock's fifty day moving average is $38.98 and its 200 day moving average is $41.24. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The firm has a market cap of $10.28 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65.

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

Magna International Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Magna International's previous quarterly dividend of $0.48. Magna International's dividend payout ratio is currently 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.