25,320 Shares in Magna International Inc. (NYSE:MGA) Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,320 shares of the company's stock, valued at approximately $1,040,000.

Several other hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new position in shares of Magna International in the third quarter valued at approximately $32,000. Grove Bank & Trust increased 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 worth $34,000 after buying an additional 343 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 purchasing an additional 513 shares during the last quarter. Tobam lifted its stake in Magna International by 94.3% during the third quarter. Tobam now owns 4,373 shares of the company's stock worth $179,000 after purchasing an additional 2,122 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in Magna International in the third quarter valued at approximately $216,000. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Trading Up 2.3 %

Magna International stock traded up $0.94 during midday trading on Friday, reaching $42.22. The stock had a trading volume of 2,049,687 shares, compared to its average volume of 1,608,878. The stock has a market capitalization of $12.13 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. The stock's 50-day simple moving average is $43.41 and its 200 day simple moving average is $42.47. Magna International Inc. has a twelve month low of $38.01 and a twelve month high of $60.32.

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

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.475 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 4.50%. Magna International's dividend payout ratio is currently 50.80%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Magna International from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Scotiabank raised their target price on Magna International from $50.00 to $52.00 and gave the company a "sector perform" rating in a report on Monday, November 4th. The Goldman Sachs Group downgraded shares of Magna International from a "neutral" rating to a "sell" rating and reduced their price target for the company from $42.00 to $41.00 in a research report on Wednesday, December 11th. Morgan Stanley cut Magna International from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $55.00 to $43.00 in a report on Wednesday, September 25th. Finally, UBS Group lifted their price target on Magna International from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $49.65.

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.