Geode Capital Management LLC Has $46.80 Million Holdings in Magna International Inc. (NYSE:MGA)

Geode Capital Management LLC lifted its stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,151,759 shares of the company's stock after purchasing an additional 32,000 shares during the quarter. Geode Capital Management LLC owned 0.40% of Magna International worth $46,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP lifted its position 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 buying an additional 16,639 shares in the last quarter. Toronto Dominion Bank grew its stake in Magna International by 1.9% in the second quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company's stock valued at $67,426,000 after purchasing an additional 30,361 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Magna International by 117,113.9% in the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company's stock valued at $3,464,000 after purchasing an additional 84,322 shares in the last quarter. Millennium Management LLC increased its position in Magna International by 135.5% in the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company's stock worth $6,818,000 after purchasing an additional 93,637 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd raised its stake in shares of Magna International by 5.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company's stock worth $299,543,000 after purchasing an additional 395,745 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Price Performance

Shares of Magna International stock traded up $0.37 during midday trading on Tuesday, hitting $42.42. 430,490 shares of the company were exchanged, compared to its average volume of 1,601,279. The firm has a 50 day simple moving average of $43.47 and a 200-day simple moving average of $42.39. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The firm has a market cap of $12.09 billion, a P/E ratio of 11.34, a PEG ratio of 0.81 and a beta of 1.61. Magna International Inc. has a 52 week low of $38.01 and a 52 week high of $60.32.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. Research analysts forecast that Magna International Inc. will post 5.22 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Friday, November 15th. Magna International's payout ratio is 50.80%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MGA shares. TD Securities dropped their price objective on Magna International from $53.00 to $52.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Wells Fargo & Company reduced their price objective on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, December 16th. Royal Bank of Canada cut their target price on Magna International from $42.00 to $41.00 and set a "sector perform" rating on the stock in a report on Monday, November 4th. Wolfe Research raised Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. Finally, Morgan Stanley lowered Magna International from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $55.00 to $43.00 in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $49.65.

Magna International 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.