Kendall Capital Management Invests $1.18 Million in Magna International Inc. $MGA

Kendall Capital Management purchased a new position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,918 shares of the company’s stock, valued at approximately $1,176,000.

Other large investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. grew its holdings in Magna International by 2.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after acquiring an additional 16,255 shares during the period. Plato Investment Management Ltd raised its position in shares of Magna International by 74.5% during the 4th quarter. Plato Investment Management Ltd now owns 69,752 shares of the company’s stock valued at $3,741,000 after acquiring an additional 29,785 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Magna International by 43.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock valued at $11,095,000 after purchasing an additional 60,432 shares during the period. Mediolanum International Funds Ltd lifted its stake in shares of Magna International by 83.1% in the 1st quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock valued at $7,210,000 after purchasing an additional 61,151 shares during the period. Finally, ARGA Investment Management LP boosted its position in shares of Magna International by 1.1% in the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock worth $223,512,000 after purchasing an additional 44,996 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Price Performance

MGA opened at $73.00 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. Magna International Inc. has a 12 month low of $43.11 and a 12 month high of $73.22. The company has a fifty day simple moving average of $67.06 and a 200 day simple moving average of $62.71. The stock has a market cap of $19.52 billion, a P/E ratio of 26.45, a P/E/G ratio of 0.79 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, research analysts expect that Magna International Inc. will post 7.07 EPS for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, August 14th. Magna International’s payout ratio is 71.74%.

Analyst Ratings Changes

MGA has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Magna International from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. raised their target price on Magna International from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Wells Fargo & Company boosted their target price on Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Royal Bank Of Canada upped their price target on Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley increased their price target on shares of Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Magna International presently has an average rating of “Hold” and an average target price of $68.20.

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.