US Bancorp DE decreased its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 696,224 shares of the company’s stock after selling 24,867 shares during the quarter. US Bancorp DE’s holdings in Magna International were worth $33,898,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MGA. MU Investments Co. Ltd. raised its holdings in shares of Magna International by 17.9% in the 4th quarter. MU Investments Co. Ltd. now owns 119,700 shares of the company’s stock valued at $5,271,000 after purchasing an additional 18,200 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Magna International in the 4th quarter valued at about $36,000. Janney Montgomery Scott LLC raised its holdings in shares of Magna International by 760.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 33,662 shares of the company’s stock valued at $1,530,000 after purchasing an additional 29,749 shares in the last quarter. Ellis Investment Partners LLC raised its holdings in shares of Magna International by 4,787.7% in the 1st quarter. Ellis Investment Partners LLC now owns 1,906,688 shares of the company’s stock valued at $1,906,000 after purchasing an additional 1,867,678 shares in the last quarter. Finally, We Are One Seven LLC raised its holdings in shares of Magna International by 79.4% in the 1st quarter. We Are One Seven LLC now owns 5,283 shares of the company’s stock valued at $257,000 after purchasing an additional 2,339 shares in the last quarter. Institutional investors own 60.60% of the company’s stock.

Shares of Magna International stock traded down $0.19 on Wednesday, reaching $44.29. The stock had a trading volume of 634,634 shares, compared to its average volume of 1,201,923. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.26. Magna International Inc. has a 1 year low of $42.88 and a 1 year high of $67.07. The company has a market cap of $14.34 billion, a P/E ratio of 6.60, a PEG ratio of 1.14 and a beta of 1.45.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Thursday, May 9th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.10). Magna International had a return on equity of 19.01% and a net margin of 6.75%. The firm had revenue of $10.59 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the firm earned $1.84 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Magna International Inc. will post 6.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Thursday, May 23rd. Magna International’s payout ratio is currently 21.76%.

Several research firms have recently commented on MGA. Seaport Global Securities began coverage on shares of Magna International in a report on Tuesday, April 16th. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Tuesday, April 2nd. BMO Capital Markets lowered shares of Magna International from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $64.00 to $55.00 in a report on Thursday, March 21st. ValuEngine lowered shares of Magna International from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, CIBC lowered shares of Magna International from a “sector outperform” rating to a “neutral” rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $60.56.

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Magna International Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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