Mufg Securities Canada LTD. Sells 26,855 Shares of Magna International Inc. $MGA

Mufg Securities Canada LTD. trimmed its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 361,974 shares of the company’s stock after selling 26,855 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Magna International were worth $23,764,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MGA. EverSource Wealth Advisors LLC grew 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 purchasing an additional 205 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in shares of Magna International by 2.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock valued at $439,000 after buying an additional 215 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Magna International by 2.6% in the fourth quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock valued at $486,000 after buying an additional 235 shares during the period. Integrated Wealth Concepts LLC grew its position in Magna International by 1.8% during the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after buying an additional 246 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Magna International by 9.1% during the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Scotiabank upped their target price on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research report on Monday, August 3rd. Royal Bank Of Canada boosted 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. JPMorgan Chase & Co. upped their price objective on shares of Magna International from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Barclays raised their target price on shares of Magna International from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Magna International currently has an average rating of “Hold” and an average price target of $68.20.

Magna International Stock Down 0.4%

Shares of NYSE:MGA opened at $65.57 on Tuesday. The company has a fifty day moving average of $67.12 and a 200-day moving average of $63.31. The company has a market capitalization of $17.53 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. 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 Inc. has a 52-week low of $43.11 and a 52-week high of $73.22.

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

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 14th. Magna International’s dividend payout ratio (DPR) is presently 71.74%.

Magna International Company 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.