Magna International (TSE:MG) Insider Sells 5,000 Shares of Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Bruce Cluney sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of C$95.22, for a total value of C$476,100.00. Following the transaction, the insider owned 40,239 shares in the company, valued at C$3,831,557.58. This represents a 11.05% decrease in their position.

Magna International Stock Performance

MG traded up C$1.00 during trading on Wednesday, hitting C$99.66. 564,408 shares of the stock were exchanged, compared to its average volume of 1,326,834. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 15.82. Magna International Inc. has a 1-year low of C$57.31 and a 1-year high of C$101.10. The stock has a fifty day moving average price of C$92.85 and a two-hundred day moving average price of C$84.83. The firm has a market capitalization of C$27.55 billion, a P/E ratio of 36.64, a PEG ratio of 0.45 and a beta of 2.13.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings data on Friday, July 31st. The company reported C$2.64 earnings per share for the quarter. The business had revenue of C$15.60 billion during the quarter. Magna International had a return on equity of 6.15% and a net margin of 1.77%. As a group, sell-side analysts predict that Magna International Inc. will post 8.8948171 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 28th will be paid a dividend of $0.495 per share. The ex-dividend date is Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a yield of 2.0%. Magna International’s dividend payout ratio is currently 72.06%.

Wall Street Analyst Weigh In

MG has been the topic of a number of recent research reports. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Scotiabank raised Magna International from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

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.