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

Hillsdale Investment Management Inc. increased its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 14.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 832,575 shares of the company’s stock after acquiring an additional 107,150 shares during the quarter. Magna International comprises approximately 1.3% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 16th largest holding. Hillsdale Investment Management Inc.’s holdings in Magna International were worth $46,486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Community Bank N.A. purchased a new position in Magna International in the third quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted 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 buying an additional 205 shares during the last quarter. IFC & Insurance Marketing Inc. acquired a new position in shares of Magna International in the 4th quarter valued at $49,000. Atlas Capital Advisors Inc. acquired a new position in shares of Magna International in the 4th quarter valued at $67,000. Finally, Danske Bank A S purchased a new position in shares of Magna International in the 3rd quarter valued at $112,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Price Performance

Shares of MGA opened at $64.04 on Tuesday. Magna International Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $69.94. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. The firm has a 50-day simple moving average of $64.31 and a 200-day simple moving average of $59.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22.

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

Magna International Dividend Announcement

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

Analyst Upgrades and Downgrades

MGA has been the topic of several research analyst reports. The Goldman Sachs Group cut their price target on shares of Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research note on Tuesday, April 14th. Veritas raised Magna International to a “strong-buy” rating in a report on Monday, May 4th. Wells Fargo & Company cut their target price on Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Barclays reduced their target price on Magna International from $67.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Finally, Citigroup upped their target price on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Magna International presently has an average rating of “Hold” and an average target price of $65.60.

Magna International 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.