Forsta AP Fonden Has $3.46 Million Stake in Magna International Inc. (NYSE:MGA)

Forsta AP Fonden grew its position in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 20.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,300 shares of the company's stock after acquiring an additional 14,200 shares during the quarter. Forsta AP Fonden's holdings in Magna International were worth $3,462,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MGA. EverSource Wealth Advisors LLC raised its stake in Magna International by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company's stock valued at $72,000 after acquiring an additional 319 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company's stock valued at $34,000 after purchasing an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Magna International by 84.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company's stock worth $46,000 after purchasing an additional 513 shares during the period. LRI Investments LLC bought a new position in Magna International in the 1st quarter valued at about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Magna International during the 2nd quarter valued at about $28,000. Institutional investors own 67.49% of the company's stock.

Magna International Stock Down 0.7 %

NYSE:MGA traded down $0.30 during trading hours on Wednesday, hitting $41.31. 882,218 shares of the stock traded hands, compared to its average volume of 1,574,132. The firm has a 50 day moving average price of $41.39 and a 200 day moving average price of $43.27. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.67 and a beta of 1.59. Magna International Inc. has a fifty-two week low of $38.01 and a fifty-two week high of $60.32. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.11). The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $11.01 billion. Magna International had a return on equity of 12.53% and a net margin of 2.29%. The company's revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. Equities research analysts anticipate that Magna International Inc. will post 5.4 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.475 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.90 dividend on an annualized basis and a yield of 4.60%. Magna International's payout ratio is 53.98%.

Wall Street Analyst Weigh In

MGA has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price target on shares of Magna International from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Monday, July 22nd. Wolfe Research reaffirmed an "underperform" rating on shares of Magna International in a research note on Thursday, September 5th. Barclays lowered their price target on Magna International from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 6th. Evercore ISI cut their price objective on Magna International from $60.00 to $50.00 and set an "in-line" rating for the company in a report on Monday, July 15th. Finally, The Goldman Sachs Group lowered their target price on Magna International from $44.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Magna International has a consensus rating of "Hold" and a consensus target price of $49.65.

About Magna International

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.