Magna International Inc. $MGA Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 725,425 shares of the company’s stock after acquiring an additional 16,255 shares during the quarter. Magna International makes up 1.1% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 18th biggest holding. Hillsdale Investment Management Inc.’s holdings in Magna International were worth $38,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Community Bank N.A. acquired a new position in shares of Magna International during the 3rd quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its position in shares of Magna International by 35.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares in the last quarter. Danske Bank A S acquired a new position in shares of Magna International during the 3rd quarter worth about $112,000. Venturi Wealth Management LLC acquired a new position in shares of Magna International during the 4th quarter worth about $200,000. Finally, Shakespeare Wealth Management LLC acquired a new position in shares of Magna International during the 4th quarter worth about $221,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Stock Down 2.0%

Magna International stock opened at $64.80 on Friday. Magna International Inc. has a fifty-two week low of $35.34 and a fifty-two week high of $69.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The company has a market capitalization of $17.64 billion, a P/E ratio of 27.11, a PEG ratio of 0.90 and a beta of 1.44. The stock has a 50-day simple moving average of $59.59 and a 200-day simple moving average of $56.48.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the business earned $0.78 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Equities research analysts expect that Magna International Inc. will post 6.87 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s payout ratio is presently 82.85%.

Analyst Upgrades and Downgrades

MGA has been the subject of several analyst reports. TD Securities upped their price objective on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Raymond James Financial upped their price objective on Magna International from $50.00 to $75.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 17th. Morgan Stanley upped their price objective on Magna International from $54.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 18th. Veritas raised Magna International to a “strong-buy” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company reduced their target price on Magna International from $69.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.13.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.