Stanley Laman Group Ltd. Has $3.13 Million Position in Magna International Inc. (NYSE:MGA)

Stanley Laman Group Ltd. lessened its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,965 shares of the company’s stock after selling 663 shares during the period. Stanley Laman Group Ltd.’s holdings in Magna International were worth $3,129,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MGA. Pzena Investment Management LLC grew its position in shares of Magna International by 58.2% in the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after buying an additional 3,609,429 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Magna International by 8.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after purchasing an additional 157,808 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Magna International by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock valued at $50,921,000 after purchasing an additional 147,950 shares in the last quarter. QV Investors Inc. boosted its position in shares of Magna International by 20.7% during the 4th quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock valued at $39,202,000 after purchasing an additional 113,332 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its position in shares of Magna International by 243.3% during the 3rd quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock valued at $2,724,000 after purchasing an additional 36,005 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Stock Performance

Shares of MGA traded down $0.52 on Thursday, reaching $48.69. 1,469,184 shares of the company’s stock traded hands, compared to its average volume of 1,365,986. The stock’s 50 day simple moving average is $52.91 and its two-hundred day simple moving average is $54.18. Magna International Inc. has a 52-week low of $46.71 and a 52-week high of $65.27. The stock has a market cap of $13.99 billion, a PE ratio of 11.58, a PEG ratio of 0.50 and a beta of 1.69. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The firm had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period last year, the company posted $0.91 earnings per share. Magna International’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts forecast that Magna International Inc. will post 6.11 earnings per share for the current fiscal year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.90%. This is a positive change from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, February 22nd. Magna International’s dividend payout ratio is 45.02%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGA. Barclays cut their target price on Magna International from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Citigroup cut their price target on Magna International from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. BMO Capital Markets cut their price target on Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. UBS Group increased their price target on Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Finally, Raymond James cut their price target on Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.50.

Magna International Company 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.