Putnam Investments LLC boosted its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 33.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,234 shares of the company’s stock after buying an additional 15,420 shares during the quarter. Putnam Investments LLC’s holdings in Magna International were worth $3,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meadow Creek Investment Management LLC acquired a new position in Magna International during the second quarter worth about $116,000. Flagship Harbor Advisors LLC acquired a new position in Magna International during the second quarter worth about $122,000. Glen Harbor Capital Management LLC acquired a new position in Magna International during the second quarter worth about $140,000. Nisa Investment Advisors LLC acquired a new position in Magna International during the second quarter worth about $163,000. Finally, Colony Group LLC acquired a new position in Magna International during the second quarter worth about $267,000. Institutional investors own 59.19% of the company’s stock.

Shares of MGA opened at $55.08 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. The company has a market cap of $19.04 billion, a P/E ratio of 8.69, a PEG ratio of 0.96 and a beta of 1.38. Magna International Inc. has a 1 year low of $50.78 and a 1 year high of $67.47.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.07). The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.45 billion. Magna International had a net margin of 5.72% and a return on equity of 19.72%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 EPS. equities analysts predict that Magna International Inc. will post 6.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a dividend of $0.33 per share. This is an increase from Magna International’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 2.40%. Magna International’s dividend payout ratio is presently 22.15%.

MGA has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Magna International from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, August 9th. ValuEngine lowered shares of Magna International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 2nd. TD Securities lowered their price target on shares of Magna International from $69.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, August 9th. Zacks Investment Research upgraded shares of Magna International from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, CIBC upgraded shares of Magna International from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.88.

Magna International Company 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.

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

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