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

Russell Investments Group Ltd. raised its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 13.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 648,874 shares of the company’s stock after purchasing an additional 77,520 shares during the period. Russell Investments Group Ltd. owned about 0.23% of Magna International worth $36,621,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pzena Investment Management LLC grew its holdings in Magna International by 11.0% in the first quarter. Pzena Investment Management LLC now owns 4,548,469 shares of the company’s stock valued at $243,661,000 after purchasing an additional 451,684 shares during the last quarter. Park Place Capital Corp grew its holdings in Magna International by 4.3% in the first quarter. Park Place Capital Corp now owns 5,209 shares of the company’s stock valued at $279,000 after purchasing an additional 216 shares during the last quarter. US Bancorp DE grew its holdings in Magna International by 0.6% in the first quarter. US Bancorp DE now owns 529,658 shares of the company’s stock valued at $28,374,000 after purchasing an additional 3,021 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Magna International by 0.7% in the first quarter. Toronto Dominion Bank now owns 1,902,371 shares of the company’s stock valued at $101,720,000 after acquiring an additional 12,819 shares in the last quarter. Finally, Boston Research & Management Inc. lifted its position in shares of Magna International by 16.7% in the first quarter. Boston Research & Management Inc. now owns 49,705 shares of the company’s stock valued at $2,662,000 after acquiring an additional 7,095 shares in the last quarter. Institutional investors and hedge funds own 62.21% of the company’s stock.

Magna International Stock Performance

Magna International stock opened at $56.03 on Friday. The stock’s 50-day moving average is $53.00 and its 200-day moving average is $55.21. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.51 and a beta of 1.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 0.75. Magna International Inc. has a 12 month low of $46.71 and a 12 month high of $68.92.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, November 3rd. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.12. The company had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $10.43 billion. Magna International had a return on equity of 12.36% and a net margin of 2.47%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. Equities analysts anticipate that Magna International Inc. will post 5.41 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $0.46 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.28%. Magna International’s dividend payout ratio (DPR) is currently 50.97%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Scotiabank upped their price objective on Magna International from $61.00 to $62.00 and gave the company a “sector perform” rating in a research report on Monday, November 6th. UBS Group reduced their price objective on Magna International from $63.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 10th. Barclays upped their price objective on Magna International from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. StockNews.com assumed coverage on Magna International in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Citigroup reduced their price objective on Magna International from $61.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 11th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $66.29.

About Magna International

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.