Magna International Inc. (NYSE:MGA) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC cut its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 44.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,160 shares of the company’s stock after selling 915 shares during the period. Parallel Advisors LLC’s holdings in Magna International were worth $39,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock valued at $100,087,000 after purchasing an additional 822,375 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Magna International by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock valued at $63,280,000 after buying an additional 371,437 shares during the last quarter. Mufg Securities Canada LTD. increased its stake in shares of Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after acquiring an additional 172,754 shares during the period. Jones Financial Companies Lllp grew its position in Magna International by 35.5% during the fourth quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock worth $4,719,000 after buying an additional 29,567 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Magna International by 99.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company’s stock valued at $2,108,000 after purchasing an additional 25,142 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Price Performance

Shares of Magna International stock opened at $37.27 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.63 and a beta of 1.50. Magna International Inc. has a 1-year low of $30.39 and a 1-year high of $47.22. The firm’s 50-day moving average price is $34.45 and its two-hundred day moving average price is $38.07.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a net margin of 2.36% and a return on equity of 12.78%. The company had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period last year, the company earned $1.08 earnings per share. Magna International’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities analysts predict that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.94 dividend on an annualized basis and a yield of 5.21%. Magna International’s payout ratio is presently 48.50%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Magna International from $32.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. TD Securities lifted their price objective on shares of Magna International from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Barclays dropped their target price on Magna International from $47.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 15th. Bank of America cut shares of Magna International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th. Finally, Morgan Stanley reduced their price objective on shares of Magna International from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Magna International presently has an average rating of “Hold” and a consensus price target of $41.56.

Magna International Company 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.