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

Russell Investments Group Ltd. cut its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 813,681 shares of the company’s stock after selling 113,694 shares during the period. Russell Investments Group Ltd. owned approximately 0.28% of Magna International worth $48,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MGA. S.A. Mason LLC increased its position in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after purchasing an additional 229 shares during the period. Van ECK Associates Corp raised its position in Magna International by 9.6% in the third quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after acquiring an additional 312 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after acquiring an additional 526 shares during the last quarter. Manning & Napier Group LLC boosted its position in shares of Magna International by 1.6% during the 3rd quarter. Manning & Napier Group LLC now owns 42,789 shares of the company’s stock valued at $2,294,000 after purchasing an additional 654 shares in the last quarter. Finally, DGS Capital Management LLC boosted its position in shares of Magna International by 18.1% during the 4th quarter. DGS Capital Management LLC now owns 8,973 shares of the company’s stock valued at $530,000 after purchasing an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MGA shares. Wells Fargo & Company dropped their price target on Magna International from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Royal Bank of Canada decreased their price target on Magna International from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, February 12th. UBS Group lifted their price target on Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. TD Securities reduced their price objective on shares of Magna International from $69.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Raymond James dropped their target price on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, February 12th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.50.

Magna International Stock Up 0.5 %

MGA opened at $49.37 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The business has a 50 day moving average price of $52.55 and a 200 day moving average price of $54.08. The firm has a market cap of $14.18 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.49 and a beta of 1.69. Magna International Inc. has a twelve month low of $46.71 and a twelve month high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The firm had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. Research analysts forecast that Magna International Inc. will post 6.13 EPS for the current year.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.475 per share. The ex-dividend date was Thursday, February 22nd. This is an increase from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 3.85%. Magna International’s dividend payout ratio (DPR) is 45.02%.

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.