Sciencast Management LP Takes $653,000 Position in Magna International Inc. (NYSE:MGA)

Sciencast Management LP acquired a new stake in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 15,615 shares of the company's stock, valued at approximately $653,000.

Other hedge funds also recently made changes to their positions in the company. ARGA Investment Management LP increased its stake in Magna International by 158.1% in the fourth 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 last quarter. Toronto Dominion Bank boosted its holdings in shares of Magna International by 1.2% in the 3rd 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Magna International by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company's stock valued at $46,799,000 after purchasing an additional 32,000 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Magna International by 6.4% during 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 in the last quarter. Finally, Quantbot Technologies LP lifted its position in Magna International by 12.5% in the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company's stock worth $6,128,000 after buying an additional 16,639 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

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Magna International Stock Down 7.1 %

MGA traded down $2.68 on Thursday, hitting $34.97. The company had a trading volume of 3,765,591 shares, compared to its average volume of 1,695,811. The stock has a fifty day simple moving average of $38.26 and a 200-day simple moving average of $40.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The firm has a market capitalization of $9.85 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.63 and a beta of 1.65. Magna International Inc. has a 52-week low of $33.30 and a 52-week high of $54.82.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. During the same quarter in the prior year, the company earned $1.33 EPS. The business's revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Magna International's previous quarterly dividend of $0.48. Magna International's payout ratio is 55.27%.

Analysts Set New Price Targets

A number of research analysts have commented on MGA shares. CIBC reduced their price target on shares of Magna International from $44.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company reduced 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 lowered their price target on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th. Wolfe Research upgraded shares of Magna International from an "underperform" rating to a "peer perform" rating in a research report on Thursday, December 5th. Finally, UBS Group decreased their price objective on Magna International from $44.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $47.03.

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.