Russell Investments Group Ltd. Purchases 822,375 Shares of Magna International Inc. (NYSE:MGA)

Russell Investments Group Ltd. boosted its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 52.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,395,373 shares of the company’s stock after acquiring an additional 822,375 shares during the period. Russell Investments Group Ltd. owned about 0.85% of Magna International worth $100,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Avior Wealth Management LLC increased its holdings in Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after buying an additional 600 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Magna International in the 4th quarter valued at $33,000. Lindbrook Capital LLC raised its position in shares of Magna International by 43.1% in the 4th 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. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after purchasing an additional 301 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Magna International by 88.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company’s stock valued at $88,000 after purchasing an additional 992 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Stock Down 1.8 %

MGA stock opened at $32.55 on Friday. The company has a market capitalization of $9.17 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. Magna International Inc. has a 12 month low of $31.26 and a 12 month high of $53.26. The firm’s fifty day simple moving average is $37.34 and its 200-day simple moving average is $40.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The company had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. As a group, equities research analysts forecast that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.485 dividend. 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. This represents a $1.94 dividend on an annualized basis and a yield of 5.96%. Magna International’s payout ratio is presently 55.27%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley reduced their target price on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Barclays decreased 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. Evercore ISI cut their price target on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. CIBC reduced their price target on Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, UBS Group lowered their price objective on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.03.

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.