Thurston Springer Miller Herd & Titak Inc. Makes New $28,000 Investment in Magna International Inc. (NYSE:MGA)

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 676 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MGA. Prime Capital Investment Advisors LLC purchased a new stake in Magna International in the fourth quarter worth about $237,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Magna International in the fourth quarter worth $312,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after purchasing an additional 2,727 shares during the period. DGS Capital Management LLC lifted its stake in shares of Magna International by 18.1% during the 4th quarter. DGS Capital Management LLC now owns 8,973 shares of the company’s stock valued at $530,000 after buying an additional 1,378 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its position in shares of Magna International by 3.9% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock valued at $4,217,000 after acquiring an additional 2,646 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Trading Up 1.8 %

NYSE MGA traded up $0.71 during trading on Wednesday, hitting $39.35. The stock had a trading volume of 287,556 shares, compared to its average volume of 1,617,830. Magna International Inc. has a one year low of $38.39 and a one year high of $60.55. The stock has a 50 day simple moving average of $43.14 and a 200 day simple moving average of $48.92. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 0.59 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.09.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $11.01 billion. Magna International had a return on equity of 12.96% and a net margin of 2.35%. Magna International’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. Sell-side analysts predict that Magna International Inc. will post 5.68 earnings per share for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Friday, August 16th. Magna International’s payout ratio is presently 53.98%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. BMO Capital Markets cut their target price on Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Citigroup decreased their price target on shares of Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Evercore ISI cut their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. TD Securities decreased their target price on Magna International from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company cut their price target on Magna International from $46.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.94.

Magna International Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.