CLARET ASSET MANAGEMENT Corp lowered its position in shares of Magna International (NYSE:MGA) (TSE:MG) by 46.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,788 shares of the company’s stock after selling 4,115 shares during the period. CLARET ASSET MANAGEMENT Corp’s holdings in Magna International were worth $270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Synovus Financial Corp purchased a new stake in Magna International during the 1st quarter valued at $128,000. Aviance Capital Management LLC purchased a new stake in Magna International during the 4th quarter valued at $156,000. We Are One Seven LLC purchased a new stake in Magna International during the 4th quarter valued at $193,000. Groesbeck Investment Management Corp NJ purchased a new stake in Magna International during the 4th quarter valued at $204,000. Finally, Timber Hill LLC purchased a new stake in Magna International during the 1st quarter valued at $217,000. 60.12% of the stock is owned by institutional investors and hedge funds.

NYSE:MGA opened at $66.25 on Thursday. Magna International has a 12 month low of $65.30 and a 12 month high of $66.22. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.24 and a quick ratio of 0.89. The stock has a market capitalization of $23.37 billion, a PE ratio of 11.12, a P/E/G ratio of 1.13 and a beta of 1.34.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Thursday, May 10th. The company reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.18. Magna International had a net margin of 5.65% and a return on equity of 19.64%. The firm had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $10.02 billion. During the same period last year, the company posted $1.53 EPS. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. research analysts forecast that Magna International will post 6.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 25th will be given a $0.257 dividend. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $1.03 annualized dividend and a dividend yield of 1.55%. Magna International’s dividend payout ratio is 22.15%.

Several equities research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Magna International in a research report on Monday. They set an “outperform” rating and a $80.00 price target for the company. TD Securities increased their price target on shares of Magna International from $65.00 to $69.00 and gave the company a “hold” rating in a research report on Friday, May 11th. Morgan Stanley cut shares of Magna International from an “equal weight” rating to an “underweight” rating and set a $52.00 price target for the company. in a research report on Thursday, March 22nd. Susquehanna Bancshares set a $57.00 price target on shares of Magna International and gave the company a “hold” rating in a research report on Wednesday, March 14th. Finally, Deutsche Bank increased their price target on shares of Magna International from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Magna International has a consensus rating of “Buy” and an average price target of $66.00.

Magna International Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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