Millstone Evans Group LLC Buys Shares of 800 Magna International Inc. (NYSE:MGA)

Millstone Evans Group LLC purchased a new position in Magna International Inc. (NYSE:MGA) (TSE:MG) in the 4th quarter, Holdings Channel reports. The firm purchased 800 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 1620 Investment Advisors Inc. raised its position in Magna International by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after buying an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares during the last quarter. Lindbrook Capital LLC lifted its position in Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after purchasing an additional 312 shares during the period. Avior Wealth Management LLC boosted its holdings in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Magna International by 88.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company’s stock worth $88,000 after purchasing an additional 992 shares during the period. 67.49% of the stock is owned by institutional investors.

Magna International Stock Up 2.9 %

Shares of MGA opened at $37.49 on Tuesday. The business’s 50 day moving average is $38.39 and its 200 day moving average is $40.98. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. Magna International Inc. has a 12-month low of $33.30 and a 12-month high of $54.98. The company has a market capitalization of $10.56 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm had revenue of $10.63 billion for the quarter, compared to analysts’ expectations of $10.32 billion. During the same quarter last year, the business posted $1.33 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts expect that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio is 55.27%.

Wall Street Analyst Weigh In

MGA has been the topic of a number of research reports. Bank of America downgraded Magna International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $52.00 to $48.00 in a research note on Tuesday, March 4th. UBS Group cut their price target on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group cut shares of Magna International from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Barclays cut their target price on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, Scotiabank decreased their price target on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Magna International presently has an average rating of “Hold” and an average price target of $47.03.

About Magna International

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.