Quantbot Technologies LP Has $6.13 Million Stock Position in Magna International Inc. (NYSE:MGA)

Quantbot Technologies LP increased its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,327 shares of the company's stock after purchasing an additional 16,639 shares during the quarter. Quantbot Technologies LP owned 0.05% of Magna International worth $6,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. LRI Investments LLC acquired a new position in Magna International in the first quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Magna International during the second quarter worth about $28,000. Kennebec Savings Bank bought a new stake in Magna International in the third quarter worth about $32,000. Grove Bank & Trust lifted its holdings in Magna International by 70.4% in the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company's stock valued at $34,000 after acquiring an additional 343 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted 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 valued at $46,000 after purchasing an additional 513 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGA has been the subject of several recent research reports. TD Securities cut their target price on shares of Magna International from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Barclays cut their target price 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. CIBC decreased their price target on Magna International from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada cut their price objective on Magna International from $42.00 to $41.00 and set a "sector perform" rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Magna International from $63.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $49.76.

Magna International Price Performance

Magna International stock traded down $2.42 during mid-day trading on Tuesday, reaching $44.04. 1,933,630 shares of the company were exchanged, compared to its average volume of 1,611,400. The company has a fifty day simple moving average of $42.27 and a 200-day simple moving average of $42.61. The firm has a market cap of $12.65 billion, a PE ratio of 12.02, a PEG ratio of 0.83 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International Inc. has a 12 month low of $38.01 and a 12 month high of $60.32.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its 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). The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. Magna International's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 earnings per share. As a group, equities research analysts expect that Magna International Inc. will post 5.22 earnings per share for the current fiscal year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, November 15th. Magna International's payout ratio is 50.80%.

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.