Insider Selling: Magna International (TSE:MG) Insider Sells C$3,165,900.32 in Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Eric Jon Wilds Wilds sold 34,672 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total value of C$3,165,900.32. Following the sale, the insider owned 38,756 shares of the company’s stock, valued at C$3,538,810.36. The trade was a 47.22% decrease in their ownership of the stock.

Magna International Trading Down 2.0%

Shares of TSE MG opened at C$89.35 on Friday. Magna International Inc. has a one year low of C$48.50 and a one year high of C$95.18. The firm has a market capitalization of C$24.70 billion, a PE ratio of 37.70, a PEG ratio of 0.45 and a beta of 2.05. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. The business has a 50-day moving average price of C$82.03 and a two-hundred day moving average price of C$77.78.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings data on Friday, May 1st. The company reported C$1.92 EPS for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The firm had revenue of C$14.43 billion during the quarter. As a group, analysts predict that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were paid a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.2%. Magna International’s dividend payout ratio (DPR) is 82.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank raised Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Veritas raised Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce raised Magna International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Four investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Magna International currently has an average rating of “Buy” and a consensus price target of C$61.00.

Magna International Company Profile

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.