Jones Financial Companies Lllp Acquires 29,567 Shares of Magna International Inc. (NYSE:MGA)

Jones Financial Companies Lllp lifted its stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 35.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,932 shares of the company's stock after purchasing an additional 29,567 shares during the period. Jones Financial Companies Lllp's holdings in Magna International were worth $4,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MGA. Avior Wealth Management LLC lifted its position in Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after acquiring an additional 600 shares during the period. Kennebec Savings Bank purchased a new position in Magna International during the 3rd quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock valued at $46,000 after acquiring an additional 301 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Magna International by 88.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company's stock valued at $88,000 after acquiring an additional 992 shares during the period. Finally, Entropy Technologies LP purchased a new position in Magna International during the 4th quarter valued at about $256,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Price Performance

NYSE:MGA traded up $2.72 during trading hours on Wednesday, hitting $36.86. 2,776,456 shares of the stock traded hands, compared to its average volume of 1,651,189. 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 Inc. has a 1 year low of $33.30 and a 1 year high of $56.12. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65. The stock has a 50 day moving average price of $39.66 and a 200 day moving average price of $41.45.

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 for the quarter, beating the consensus estimate of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The business had revenue of $10.63 billion for the quarter, compared to the consensus estimate of $10.32 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The company's revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts forecast 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 will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Magna International's previous quarterly dividend of $0.48. Magna International's payout ratio is 55.27%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America cut shares of Magna International from a "buy" rating to a "neutral" rating and lowered their price target for the company from $52.00 to $48.00 in a research report on Tuesday. The Goldman Sachs Group cut shares of Magna International from a "neutral" rating to a "sell" rating and lowered their price target for the company from $42.00 to $41.00 in a research report on Wednesday, December 11th. Evercore ISI reduced their price objective on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating for the company in a research note on Tuesday, February 18th. Raymond James reduced their price objective on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating for the company in a research note on Tuesday, February 18th. Finally, TD Securities reduced their price objective on shares of Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. 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.