Magna International Inc. (NYSE:MGA) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 52.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,395,373 shares of the company's stock after buying an additional 822,375 shares during the period. Russell Investments Group Ltd. owned 0.85% of Magna International worth $100,087,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ARGA Investment Management LP increased its position in 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 acquiring an additional 1,568,953 shares during the period. Toronto Dominion Bank raised its stake in shares of Magna International by 1.2% during the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company's stock worth $66,810,000 after purchasing an additional 18,704 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Magna International by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company's stock worth $63,280,000 after purchasing an additional 371,437 shares during the period. Mufg Securities Canada LTD. grew its position in Magna International by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock valued at $17,228,000 after buying an additional 172,754 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Magna International by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company's stock valued at $10,000,000 after buying an additional 14,441 shares during the period. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Price Performance

Shares of NYSE:MGA traded down $0.02 on Friday, hitting $32.11. The company had a trading volume of 508,700 shares, compared to its average volume of 1,741,759. 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 market cap of $9.05 billion, a PE ratio of 9.14, a PEG ratio of 0.63 and a beta of 1.56. Magna International Inc. has a 52-week low of $30.39 and a 52-week high of $51.39. The business has a 50 day moving average of $36.36 and a 200 day moving average of $40.24.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.23. The company had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. 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. Investors of record on Friday, February 28th were paid a $0.485 dividend. This is a positive change from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend was Friday, February 28th. Magna International's dividend payout ratio is presently 55.27%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MGA shares. Wells Fargo & Company lowered their target price on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, December 16th. Scotiabank dropped their target price on Magna International from $49.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada downgraded Magna International from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $51.00 to $32.00 in a research note on Friday. TD Securities cut their price objective on Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Finally, Evercore ISI decreased their target price on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $44.91.

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.