Magna International Inc. (NYSE:MGA) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,271 shares of the company’s stock after selling 11,124 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Magna International were worth $3,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. grew 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 valued at $328,000 after acquiring an additional 276 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Magna International by 43.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after acquiring an additional 312 shares in the last quarter. LRI Investments LLC grew its stake in shares of Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after acquiring an additional 723 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Magna International in the first quarter worth $27,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Magna International in the fourth quarter worth $33,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MGA shares. Barclays lowered their price objective on Magna International from $47.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 15th. Morgan Stanley decreased their price objective on Magna International from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, May 19th. TD Securities raised their target price on shares of Magna International from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. CIBC raised their target price on Magna International from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price target on shares of Magna International from $38.00 to $31.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Magna International currently has a consensus rating of “Hold” and an average price target of $41.44.

Magna International Stock Performance

NYSE:MGA opened at $41.32 on Friday. The firm has a 50 day simple moving average of $36.72 and a 200-day simple moving average of $37.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 0.74. The firm has a market cap of $11.64 billion, a PE ratio of 10.33, a P/E/G ratio of 0.75 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.

Magna International (NYSE:MGA) (TSE:MG) last released its 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). The business had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.66 billion. Magna International had a net margin of 2.73% and a return on equity of 11.96%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. On average, equities analysts expect that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend was Friday, May 16th. Magna International’s dividend payout ratio (DPR) is 48.50%.

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.