Toronto Dominion Bank Buys 18,704 Shares of Magna International Inc. (NYSE:MGA)

Toronto Dominion Bank grew its holdings in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627,927 shares of the company's stock after buying an additional 18,704 shares during the quarter. Toronto Dominion Bank owned approximately 0.57% of Magna International worth $66,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank bought a new stake in Magna International during the 3rd quarter worth about $32,000. Grove Bank & Trust lifted its position in Magna International by 70.4% during the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company's stock worth $34,000 after buying an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Magna International by 84.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company's stock worth $46,000 after buying an additional 513 shares in the last quarter. Tobam raised its holdings in shares of Magna International by 94.3% in the 3rd quarter. Tobam now owns 4,373 shares of the company's stock valued at $179,000 after purchasing an additional 2,122 shares during the period. Finally, Arkadios Wealth Advisors bought a new stake in shares of Magna International in the 3rd quarter valued at about $216,000. 67.49% of the stock is owned by institutional investors.

Magna International Stock Performance

Shares of NYSE:MGA traded down $0.73 on Wednesday, reaching $44.98. 1,248,563 shares of the company's stock were exchanged, compared to its average volume of 1,612,771. The company has a fifty day moving average of $43.05 and a 200-day moving average of $42.50. Magna International Inc. has a twelve month low of $38.01 and a twelve month high of $60.32. The company has a market capitalization of $12.92 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.83 and a beta of 1.61. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

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

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.475 per share. The ex-dividend date was Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 4.22%. Magna International's dividend payout ratio is 50.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MGA shares. StockNews.com raised shares of Magna International from a "hold" rating to a "buy" rating in a report on Monday, November 4th. TD Securities dropped their target price on shares of 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 upped their target price on shares of Magna International from $44.00 to $46.00 and gave the company an "equal weight" rating in a report on Monday, November 4th. UBS Group upped their target price on shares of Magna International from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Finally, Wolfe Research raised shares of Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $49.76.

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.