Magna International Inc. $MGA Stock Holdings Lessened by Leuthold Group LLC

Leuthold Group LLC reduced its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 93.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,839 shares of the company’s stock after selling 132,137 shares during the quarter. Leuthold Group LLC’s holdings in Magna International were worth $626,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Frank Rimerman Advisors LLC increased its holdings in Magna International by 2.4% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,744 shares of the company’s stock valued at $429,000 after purchasing an additional 156 shares in the last quarter. Cordatus Wealth Management LLC raised its position in Magna International by 2.8% in the 3rd quarter. Cordatus Wealth Management LLC now owns 6,181 shares of the company’s stock valued at $394,000 after purchasing an additional 168 shares during the last quarter. Steph & Co. boosted its stake in Magna International by 2.1% in the third quarter. Steph & Co. now owns 8,373 shares of the company’s stock worth $533,000 after purchasing an additional 172 shares in the last quarter. Parallel Advisors LLC boosted its stake in Magna International by 9.1% in the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after purchasing an additional 275 shares in the last quarter. Finally, Andra AP fonden grew its holdings in shares of Magna International by 1.1% during the second quarter. Andra AP fonden now owns 28,200 shares of the company’s stock worth $1,852,000 after purchasing an additional 300 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MGA has been the subject of a number of research reports. Canadian Imperial Bank of Commerce lowered Magna International from an “outperformer” rating to a “hold” rating and lowered their target price for the company from $78.00 to $70.00 in a research note on Wednesday, October 21st. Royal Bank Of Canada reduced their price target on shares of Magna International from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Monday, November 2nd. BMO Capital Markets lowered shares of Magna International from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $76.00 to $70.00 in a report on Friday, September 18th. Citigroup lowered their price objective on shares of Magna International from $75.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Morgan Stanley lowered their price objective on shares of Magna International from $69.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Magna International presently has an average rating of “Hold” and an average target price of $68.33.

Magna International Stock Down 1.5%

NYSE:MGA opened at $61.35 on Wednesday. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 8.59, a P/E/G ratio of 0.67 and a beta of 1.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.14. The stock’s fifty day moving average price is $64.49 and its two-hundred day moving average price is $62.94. Magna International Inc. has a 52-week low of $45.33 and a 52-week high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last released 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. The company had revenue of $9.86 billion during the quarter, compared to analysts’ expectations of $10.01 billion. Magna International had a return on equity of 16.26% and a net margin of 1.99%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. On average, analysts anticipate that Magna International Inc. will post 7.07 EPS for the current year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be paid a $0.4950 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 13th. Magna International’s dividend payout ratio (DPR) is 63.46%.

Magna International Company Profile

Magna International is a Canadian mobility technology supplier that designs and manufactures components, systems and complete vehicles for automakers. Its products and services support a range of vehicle types, including those with electric and advanced driver-assistance technologies. The company’s operations include body and exterior systems, seating, powertrain and electronics, as well as vehicle engineering and contract manufacturing. Its portfolio also includes products such as mirrors, lighting systems and roof systems.