Magna International Inc. (NYSE:MGA) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,280 shares of the company's stock after acquiring an additional 14,441 shares during the quarter. Bank of New York Mellon Corp owned about 0.08% of Magna International worth $10,000,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Entropy Technologies LP purchased a new position in Magna International during the fourth quarter worth approximately $256,000. ARGA Investment Management LP boosted its holdings in Magna International by 158.1% in the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock valued at $107,049,000 after acquiring an additional 1,568,953 shares during the last quarter. DGS Capital Management LLC increased its stake in Magna International by 111.0% during the fourth quarter. DGS Capital Management LLC now owns 21,048 shares of the company's stock worth $880,000 after acquiring an additional 11,072 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Magna International by 29.3% during the 4th quarter. SG Americas Securities LLC now owns 48,643 shares of the company's stock worth $2,033,000 after purchasing an additional 11,015 shares during the period. Institutional investors and hedge funds own 67.49% of the company's stock.

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Analyst Ratings Changes

MGA has been the topic of a number of recent research reports. Evercore ISI reduced their price target on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley decreased their price target on shares of Magna International from $43.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. CIBC cut their price objective on Magna International from $44.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company decreased their target price on Magna International from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, December 16th. Finally, The Goldman Sachs Group lowered Magna International from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $42.00 to $41.00 in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $47.03.

Magna International Stock Performance

Shares of NYSE:MGA traded up $0.97 on Friday, reaching $36.45. 1,677,639 shares of the company's stock were exchanged, compared to its average volume of 1,683,360. Magna International Inc. has a fifty-two week low of $33.30 and a fifty-two week high of $56.12. The business's 50-day moving average is $38.98 and its two-hundred 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 capitalization of $10.28 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.63 and a beta of 1.65.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.23. The company had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. Magna International's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 earnings per share. As a group, equities research analysts forecast that Magna International Inc. will post 5.87 EPS for the current 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 issued a dividend of $0.485 per share. This is an increase from Magna International's previous quarterly dividend of $0.48. The ex-dividend date is Friday, February 28th. This represents a $1.94 annualized dividend and a dividend yield of 5.32%. Magna International's payout ratio is 55.27%.

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.