Magna International (TSE:MG) Trading Down 4.9% – Here’s What Happened

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) fell 4.9% on Thursday . The stock traded as low as C$51.12 and last traded at C$51.12. 63,008 shares were traded during trading, a decline of 96% from the average session volume of 1,659,405 shares. The stock had previously closed at C$53.77.

Analyst Ratings Changes

Several brokerages have recently weighed in on MG. Wolfe Research upgraded shares of Magna International from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada raised Magna International from a “hold” rating to a “moderate buy” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group cut shares of Magna International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 11th.

Magna International Stock Performance

The stock’s 50-day moving average price is C$54.52 and its 200-day moving average price is C$57.44. The company has a market capitalization of C$9.85 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 3.98%. Magna International’s payout ratio is currently 48.07%.

About Magna International

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.