Azimuth Capital Investment Management LLC Boosts Holdings in Magna International Inc. (NYSE:MGA)

Azimuth Capital Investment Management LLC boosted its position in shares of Magna International Inc. (NYSE:MGAFree Report) (TSE:MG) by 39.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,810 shares of the company’s stock after buying an additional 53,695 shares during the quarter. Azimuth Capital Investment Management LLC owned 0.07% of Magna International worth $11,214,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its stake in Magna International by 332.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after buying an additional 526 shares during the period. S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% during the fourth 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. Parallel Advisors LLC boosted its stake in shares of Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after purchasing an additional 879 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Magna International by 576.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,079 shares of the company’s stock valued at $182,000 after purchasing an additional 2,624 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Magna International by 9.6% during the third quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock valued at $192,000 after purchasing an additional 312 shares during the period. 67.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MGA shares. CIBC lowered their target price on shares of Magna International from $59.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. The Goldman Sachs Group lowered their target price on shares of Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. StockNews.com lowered shares of Magna International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Barclays lowered their target price on shares of Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Finally, Wells Fargo & Company decreased their price objective on Magna International from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.00.

Check Out Our Latest Analysis on Magna International

Magna International Stock Down 0.9 %

Magna International stock traded down $0.40 during trading hours on Friday, reaching $43.76. The stock had a trading volume of 1,556,415 shares, compared to its average volume of 2,479,713. The company has a market cap of $12.57 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76. The business’s 50 day moving average price is $47.94 and its 200-day moving average price is $52.91. Magna International Inc. has a 52 week low of $43.44 and a 52 week high of $65.27.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last announced its earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. Magna International had a return on equity of 12.96% and a net margin of 2.35%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 earnings per share. Sell-side analysts anticipate that Magna International Inc. will post 5.81 EPS for the current year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Thursday, May 16th. Magna International’s payout ratio is currently 53.98%.

Magna International Company Profile

(Free Report)

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.

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

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