Quantbot Technologies LP Sells 145,126 Shares of Magna International Inc. (NYSE:MGA)

Quantbot Technologies LP trimmed its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 97.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,201 shares of the company's stock after selling 145,126 shares during the quarter. Quantbot Technologies LP's holdings in Magna International were worth $176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ARGA Investment Management LP lifted its stake in shares of Magna International by 158.1% in the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock valued at $107,049,000 after purchasing an additional 1,568,953 shares during the period. Toronto Dominion Bank increased its holdings in Magna International by 1.2% in the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company's stock valued at $66,810,000 after purchasing an additional 18,704 shares during the last quarter. Geode Capital Management LLC lifted its stake in Magna International by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company's stock valued at $46,799,000 after buying an additional 32,000 shares during the period. Bank of New York Mellon Corp boosted its holdings in Magna International by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company's stock worth $10,000,000 after buying an additional 14,441 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Magna International by 35.5% during the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company's stock worth $4,719,000 after buying an additional 29,567 shares during the period. 67.49% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MGA shares. Barclays reduced their price objective on shares of Magna International from $50.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Raymond James reduced their price target on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 18th. TD Securities lowered their price objective on shares of Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Scotiabank reduced their target price on Magna International from $49.00 to $45.00 and set a "sector perform" rating on the stock in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group downgraded Magna International from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $47.03.

Magna International Stock Down 3.9 %

Magna International stock traded down $1.37 during mid-day trading on Thursday, reaching $33.21. The company's stock had a trading volume of 2,627,539 shares, compared to its average volume of 1,724,004. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. Magna International Inc. has a 12 month low of $32.78 and a 12 month high of $53.53. The business's 50 day simple moving average is $37.52 and its 200 day simple moving average is $40.71. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56.

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

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.84%. This is a boost from Magna International's previous quarterly dividend of $0.48. Magna International's dividend payout ratio is currently 55.27%.

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.