Magna International Inc. $MGA Stock: Summit Global Investments Cuts Holdings

Summit Global Investments cut its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 62.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,821 shares of the company’s stock after selling 37,757 shares during the quarter. Summit Global Investments’ holdings in Magna International were worth $1,453,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Founders Financial Securities LLC bought a new position in shares of Magna International in the third quarter worth $1,770,000. Shakespeare Wealth Management LLC bought a new position in Magna International in the 3rd quarter valued at approximately $283,000. Sigma Planning Corp bought a new position in Magna International in the third quarter valued at about $206,000. Signaturefd LLC raised its holdings in Magna International by 7.6% in the 3rd quarter. Signaturefd LLC now owns 14,353 shares of the company’s stock valued at $914,000 after buying an additional 1,012 shares during the last quarter. Finally, Kendall Capital Management lifted its holdings in shares of Magna International by 12.1% during the third quarter. Kendall Capital Management now owns 20,088 shares of the company’s stock worth $1,279,000 after purchasing an additional 2,170 shares during the period. 67.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on MGA shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Magna International in a research report on Tuesday, October 27th. TD decreased their price target on Magna International from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Scotiabank raised their price objective on Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. downgraded shares of Magna International from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $77.00 to $72.00 in a research report on Tuesday, September 15th. Finally, Barclays boosted their price target on shares of Magna International from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Magna International currently has a consensus rating of “Hold” and a consensus price target of $68.87.

Magna International Stock Performance

MGA stock opened at $63.71 on Monday. The stock has a 50-day moving average price of $65.04 and a 200-day moving average price of $62.66. Magna International Inc. has a 1-year low of $45.33 and a 1-year high of $73.22. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The firm has a market cap of $16.54 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, October 30th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.58 by $0.25. Magna International had a return on equity of 16.10% and a net margin of 1.99%. The company had revenue of $9.86 billion for the quarter, compared to analyst estimates of $10.01 billion. During the same quarter in the prior year, the company earned $1.33 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts expect that Magna International Inc. will post 7.03 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a $0.4950 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.98 annualized dividend and a yield of 3.1%. Magna International’s payout ratio is 71.74%.

Magna International News Roundup

Here are the key news stories impacting Magna International this week:

• Positive Sentiment: Earnings materially exceeded estimates. Adjusted EPS rose 38% year over year to $1.83, above the $1.58 consensus estimate, while reported diluted EPS increased 33% to $1.44. Magna tops Q3 earnings and revenue estimates
• Positive Sentiment: Margins and operating performance improved. Adjusted EBIT increased 11% to $683 million, and the adjusted EBIT margin expanded 90 basis points to 6.8%, driven by productivity initiatives, restructuring benefits, favorable commercial items, and lower tariff costs. Magna Q3 2026 margins rise as revenue softens
• Positive Sentiment: Cash returns and capital allocation support the shares. Magna returned $658 million to shareholders during the quarter and authorized a new buyback program covering up to 10% of its public float over the next 12 months. The company also raised its 2026 free-cash-flow outlook to $1.85 billion-$1.90 billion. Magna announces strong third-quarter results
• Neutral Sentiment: Management reaffirmed the midpoint of its 2026 adjusted EPS outlook at $6.85-$7.15 and narrowed the adjusted EBIT margin range to 6.3%-6.5%, suggesting confidence in profitability but less certainty around the operating range.
• Negative Sentiment: Revenue declined and the sales outlook was reduced. Third-quarter sales fell 4% to $10.1 billion as North American and Chinese vehicle production declined, programs ended, and recent divestitures reduced revenue. Full-year sales guidance was lowered to $41.2 billion-$42.0 billion, partly reflecting weaker expected production in China and unfavorable program mix. Magna Q3 adjusted earnings rise while sales fall

Magna International Company Profile

Magna International Inc is a global automotive supplier headquartered in Aurora, Ontario, Canada. The company designs, engineers and manufactures components and systems for automakers, serving vehicle manufacturers across North America, Europe and Asia.

Its products and services span several automotive categories, including body and chassis structures, exterior systems, powertrain and driveline components, seating, vehicle electronics, lighting, mirrors, and advanced driver assistance technologies.