Dreman Value Management L L C continued to hold its position in Magna International, Inc. (NYSE:MGA) (TSE:MG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,917 shares of the company’s stock at the end of the 2nd quarter. Dreman Value Management L L C’s holdings in Magna International were worth $773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Magna International by 34.8% during the second quarter. Russell Investments Group Ltd. now owns 2,020,359 shares of the company’s stock valued at $93,453,000 after purchasing an additional 521,929 shares during the period. DnB Asset Management AS raised its stake in shares of Magna International by 1.8% during the second quarter. DnB Asset Management AS now owns 1,563,041 shares of the company’s stock valued at $72,416,000 after purchasing an additional 27,384 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Magna International by 2.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,173,053 shares of the company’s stock valued at $54,242,000 after purchasing an additional 26,742 shares during the period. Cardinal Capital Management Inc. raised its stake in shares of Magna International by 2,712.5% during the second quarter. Cardinal Capital Management Inc. now owns 987,200 shares of the company’s stock valued at $45,676,000 after purchasing an additional 952,100 shares during the period. Finally, US Bancorp DE raised its stake in shares of Magna International by 9.6% during the second quarter. US Bancorp DE now owns 922,553 shares of the company’s stock valued at $42,742,000 after purchasing an additional 80,773 shares during the period. Institutional investors own 59.50% of the company’s stock.

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. TD Securities lifted their price objective on shares of Magna International from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, August 14th. KeyCorp lifted their price objective on shares of Magna International from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Citigroup Inc. lifted their price objective on shares of Magna International from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Magna International presently has a consensus rating of “Buy” and an average target price of $54.80.

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Magna International, Inc. (MGA) traded up 0.72% during mid-day trading on Friday, hitting $54.79. 792,407 shares of the stock were exchanged. The company has a 50-day moving average price of $51.43 and a 200-day moving average price of $46.49. The company has a market cap of $20.27 billion, a P/E ratio of 9.90 and a beta of 1.46. Magna International, Inc. has a one year low of $36.77 and a one year high of $55.70.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, August 11th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Magna International had a return on equity of 20.01% and a net margin of 5.73%. The company had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.50 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Magna International, Inc. will post $5.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.01%. Magna International’s dividend payout ratio (DPR) is presently 19.86%.

Magna International Profile

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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

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