Strengthening Families & Communities LLC Has $1.79 Million Position in Magna International Inc. (NYSE:MGA)

Strengthening Families & Communities LLC increased its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 10.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 43,484 shares of the company’s stock after acquiring an additional 4,209 shares during the period. Strengthening Families & Communities LLC’s holdings in Magna International were worth $1,785,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Magna International in the second quarter worth approximately $28,000. Kennebec Savings Bank acquired a new position in Magna International in the third quarter worth approximately $32,000. Grove Bank & Trust increased its holdings in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after buying an additional 343 shares during the last quarter. LRI Investments LLC acquired a new position in Magna International in the first quarter worth approximately $36,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Magna International by 84.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after buying an additional 513 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Wall Street Analyst Weigh In

MGA has been the topic of several analyst reports. Bank of America lowered their price target on Magna International from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Raymond James lowered their price objective on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 6th. Morgan Stanley cut Magna International from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $43.00 in a research report on Wednesday, September 25th. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, UBS Group lifted their price objective on Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Magna International has a consensus rating of “Hold” and a consensus price target of $49.76.

Magna International Price Performance

Magna International stock opened at $43.90 on Monday. Magna International Inc. has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $12.61 billion, a P/E ratio of 11.74, a PEG ratio of 0.72 and a beta of 1.59. The business has a 50-day moving average of $41.72 and a 200-day moving average of $42.73.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter last year, the firm earned $1.46 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities analysts anticipate that Magna International Inc. will post 5.28 EPS for the current year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Friday, November 15th. Magna International’s payout ratio is 50.80%.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.