Nikko Asset Management Americas Inc. Lowers Stock Holdings in Magna International Inc. (NYSE:MGA)

Nikko Asset Management Americas Inc. cut its holdings in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 12.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,395 shares of the company's stock after selling 15,089 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Magna International were worth $4,404,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MGA. Strengthening Families & Communities LLC lifted its holdings in shares of Magna International by 10.7% in the 3rd quarter. Strengthening Families & Communities LLC now owns 43,484 shares of the company's stock worth $1,785,000 after acquiring an additional 4,209 shares during the last quarter. Quantbot Technologies LP raised its position in Magna International by 12.5% in the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company's stock valued at $6,128,000 after purchasing an additional 16,639 shares during the period. BNP Paribas Financial Markets lifted its stake in Magna International by 117,113.9% during the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company's stock worth $3,464,000 after purchasing an additional 84,322 shares in the last quarter. ARGA Investment Management LP purchased a new position in shares of Magna International during the third quarter worth $40,710,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Magna International in the third quarter valued at $1,040,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages recently commented on MGA. Wolfe Research upgraded Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. Morgan Stanley dropped their price objective on shares of Magna International from $43.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. UBS Group reduced their target price on shares of Magna International from $44.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Scotiabank dropped their price target on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price objective on Magna International from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, December 16th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $47.03.

Magna International Stock Up 0.8 %

NYSE:MGA traded up $0.28 during midday trading on Friday, hitting $36.47. 1,934,813 shares of the company were exchanged, compared to its average volume of 1,691,331. Magna International Inc. has a fifty-two week low of $33.30 and a fifty-two week high of $56.12. The company has a market capitalization of $10.27 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $38.51 and a 200 day simple moving average of $41.04.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.23. The business had revenue of $10.63 billion for the quarter, compared to analysts' expectations of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business's revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 earnings per share. As a group, equities analysts anticipate that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.485 per share. The ex-dividend date was Friday, February 28th. This is a positive change from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.32%. Magna International's dividend payout ratio (DPR) is 55.27%.

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.