Janney Montgomery Scott LLC Boosts Holdings in Magna International Inc. (NYSE:MGA)

Janney Montgomery Scott LLC boosted its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 11.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,632 shares of the company's stock after purchasing an additional 21,532 shares during the period. Janney Montgomery Scott LLC owned 0.07% of Magna International worth $8,644,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Magna International by 202.7% during the first quarter. BNP Paribas Financial Markets now owns 26,298 shares of the company's stock worth $1,433,000 after acquiring an additional 17,611 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Magna International in the 1st quarter valued at about $1,009,000. SG Americas Securities LLC lifted its stake in Magna International by 22.2% in the first quarter. SG Americas Securities LLC now owns 36,170 shares of the company's stock valued at $1,971,000 after buying an additional 6,581 shares during the period. Forsta AP Fonden boosted its holdings in shares of Magna International by 20.4% during the 1st quarter. Forsta AP Fonden now owns 64,800 shares of the company's stock worth $3,533,000 after buying an additional 11,000 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Magna International by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company's stock valued at $60,118,000 after acquiring an additional 289,105 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MGA. Wells Fargo & Company increased their price target on Magna International from $44.00 to $46.00 and gave the company an "equal weight" rating in a research report on Monday. Bank of America decreased their price target on Magna International from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, July 22nd. Scotiabank boosted their price objective on shares of Magna International from $50.00 to $52.00 and gave the company a "sector perform" rating in a research report on Monday. Evercore ISI dropped their price target on Magna International from $60.00 to $50.00 and set an "in-line" rating for the company in a research note on Monday, July 15th. Finally, TD Securities reduced their price objective on Magna International from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Magna International presently has a consensus rating of "Hold" and a consensus price target of $49.76.

Magna International Trading Up 0.1 %

MGA stock traded up $0.05 during midday trading on Friday, hitting $43.21. 681,528 shares of the company's stock were exchanged, compared to its average volume of 1,588,651. The business has a 50-day simple moving average of $41.37 and a two-hundred day simple moving average of $43.02. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $12.42 billion, a PE ratio of 11.54, a P/E/G ratio of 0.68 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.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company had revenue of $10.28 billion for the quarter, compared to analysts' expectations of $10.34 billion. During the same period in the prior year, the company posted $1.46 EPS. The firm's revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Magna International Inc. will post 5.3 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Friday, November 15th. Magna International's payout ratio is currently 50.80%.

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.