Tidal Investments LLC Acquires 20,347 Shares of Magna International Inc. $MGA

Tidal Investments LLC boosted its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 57.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,783 shares of the company’s stock after acquiring an additional 20,347 shares during the period. Tidal Investments LLC’s holdings in Magna International were worth $3,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after acquiring an additional 154,710 shares during the period. TD Waterhouse Canada Inc. boosted its position in Magna International by 10.7% in the second quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company’s stock valued at $134,577,000 after buying an additional 206,433 shares during the last quarter. Amundi raised its position in Magna International by 4.2% during the 2nd quarter. Amundi now owns 1,781,357 shares of the company’s stock worth $117,778,000 after buying an additional 71,927 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after acquiring an additional 107,150 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Magna International by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock worth $27,215,000 after acquiring an additional 13,439 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Price Performance

MGA stock opened at $64.89 on Tuesday. Magna International Inc. has a 52-week low of $43.11 and a 52-week high of $73.22. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The stock has a market cap of $17.19 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. The business has a fifty day moving average of $67.50 and a two-hundred day moving average of $63.43.

Magna International (NYSE:MGA) (TSE:MG) last announced 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 net margin of 1.80% and a return on equity of 15.04%. The company had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the firm posted $1.44 earnings per share. Magna International’s revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, research analysts anticipate that Magna International Inc. will post 7.06 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.495 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a yield of 3.1%. Magna International’s payout ratio is presently 71.74%.

Analyst Upgrades and Downgrades

MGA has been the subject of several recent research reports. Royal Bank Of Canada lifted their price target on Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. UBS Group upped their price objective on Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Barclays raised their price objective on shares of Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Morgan Stanley lifted their price objective on shares of Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Finally, Scotiabank increased their target price on shares of Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 3rd. 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’s stock. According to MarketBeat, Magna International currently has an average rating of “Hold” and an average price target of $68.20.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.