Sumitomo Mitsui Trust Group Inc. Has $4.40 Million Stock Position in Magna International Inc. (NYSE:MGA)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 12.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 105,395 shares of the company's stock after selling 15,089 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Magna International were worth $4,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ARGA Investment Management LP increased its holdings in Magna International by 158.1% during the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock worth $107,049,000 after purchasing an additional 1,568,953 shares during the last quarter. Toronto Dominion Bank increased 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 valued at $66,810,000 after acquiring an additional 18,704 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Magna International by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company's stock valued at $46,799,000 after acquiring an additional 32,000 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Magna International by 11.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company's stock valued at $8,644,000 after acquiring an additional 21,532 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Magna International by 12.5% in the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company's stock valued at $6,128,000 after acquiring an additional 16,639 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on Magna International from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, November 4th. TD Securities lowered their price target on Magna International from $52.00 to $50.00 and set a "buy" rating for the company in a report on Monday, January 27th. Scotiabank lowered their price target on Magna International from $52.00 to $49.00 and set a "sector perform" rating for the company in a report on Monday, January 27th. Royal Bank of Canada upgraded Magna International from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $41.00 to $52.00 in a report on Friday, January 24th. Finally, Wolfe Research upgraded Magna International from an "underperform" rating to a "peer perform" rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Magna International currently has an average rating of "Hold" and a consensus target price of $50.24.

Magna International Stock Performance

MGA stock traded down $1.78 during trading on Monday, reaching $37.89. 4,259,996 shares of the company's stock were exchanged, compared to its average volume of 1,756,880. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Magna International Inc. has a 1-year low of $35.05 and a 1-year high of $56.12. The company's fifty day moving average price is $40.99 and its 200-day moving average price is $41.61. The firm has a market cap of $10.72 billion, a PE ratio of 10.13, a P/E/G ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.23. The company had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The firm's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. On average, research analysts expect that Magna International Inc. will post 5.23 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.12%. This is an increase from Magna International's previous quarterly dividend of $0.48. The ex-dividend date is Friday, February 28th. Magna International's dividend payout ratio is currently 50.80%.

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.