Quantbot Technologies LP Acquires 16,639 Shares of Magna International Inc. (NYSE:MGA)

Quantbot Technologies LP grew its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,327 shares of the company’s stock after acquiring an additional 16,639 shares during the period. Quantbot Technologies LP owned 0.05% of Magna International worth $6,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JARISLOWSKY FRASER Ltd boosted its position in Magna International by 5.9% during the second quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock valued at $299,543,000 after purchasing an additional 395,745 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Magna International by 135.5% in the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock valued at $6,818,000 after buying an additional 93,637 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Magna International by 1.9% in the second quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company’s stock valued at $67,426,000 after buying an additional 30,361 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Magna International by 11.4% during the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock worth $8,644,000 after acquiring an additional 21,532 shares in the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Magna International by 20.3% in the 3rd quarter. Forsta AP Fonden now owns 84,300 shares of the company’s stock valued at $3,462,000 after purchasing an additional 14,200 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Trading Up 3.1 %

Shares of MGA stock opened at $46.46 on Tuesday. The stock has a market cap of $13.35 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 0.83 and a beta of 1.59. Magna International Inc. has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $42.14 and a 200 day simple moving average of $42.61.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. On average, research analysts predict that Magna International Inc. will post 5.22 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Friday, November 15th. Magna International’s dividend payout ratio is currently 50.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group boosted their price target on Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. CIBC dropped their price target on Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company raised their price target on Magna International from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. TD Securities decreased their price objective on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Wolfe Research restated an “underperform” rating on shares of Magna International in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Magna International has a consensus rating of “Hold” and a consensus price target of $49.76.

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.