Magna International Inc. (NYSE:MGA) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank increased its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 1.2% during the third quarter, Holdings Channel reports. The fund owned 1,627,927 shares of the company’s stock after purchasing an additional 18,704 shares during the quarter. Toronto Dominion Bank’s holdings in Magna International were worth $66,810,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MGA. ARGA Investment Management LP acquired a new stake in shares of Magna International in the third quarter valued at approximately $40,710,000. JARISLOWSKY FRASER Ltd increased its position in Magna International by 5.9% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock valued at $299,543,000 after acquiring an additional 395,745 shares during the period. Quantbot Technologies LP raised its stake in Magna International by 616.1% during the 2nd quarter. Quantbot Technologies LP now owns 132,688 shares of the company’s stock valued at $5,560,000 after acquiring an additional 114,160 shares in the last quarter. Millennium Management LLC boosted its position in Magna International by 135.5% during the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after acquiring an additional 93,637 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Magna International by 117,113.9% in the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after purchasing an additional 84,322 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

Magna International Stock Performance

Shares of MGA stock opened at $45.71 on Wednesday. The firm has a market cap of $13.13 billion, a P/E ratio of 12.22, a PEG ratio of 0.83 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International Inc. has a fifty-two week low of $38.01 and a fifty-two week high of $60.32. The stock’s 50-day moving average is $43.05 and its two-hundred day moving average is $42.50.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, November 15th. Magna International’s dividend payout ratio is 50.80%.

Analyst Ratings Changes

MGA has been the topic of a number of recent analyst reports. Morgan Stanley cut shares of Magna International from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $55.00 to $43.00 in a research note on Wednesday, September 25th. Wells Fargo & Company upped their price target on shares of Magna International from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. The Goldman Sachs Group lowered their price objective on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Scotiabank upped their target price on Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday, November 4th. Finally, Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.