704 Shares in Magna International Inc. $MGA Acquired by LRI Investments LLC

LRI Investments LLC purchased a new position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 704 shares of the company’s stock, valued at approximately $27,000.

Several other large investors have also made changes to their positions in the company. ARGA Investment Management LP boosted its position in shares of Magna International by 17.0% during the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company’s stock worth $101,890,000 after acquiring an additional 436,366 shares in the last quarter. Amundi boosted its position in shares of Magna International by 19.0% during the 1st quarter. Amundi now owns 582,710 shares of the company’s stock worth $19,305,000 after acquiring an additional 93,189 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Magna International by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company’s stock valued at $8,582,000 after buying an additional 13,220 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Magna International by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company’s stock valued at $8,560,000 after buying an additional 41,811 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Magna International in the first quarter valued at approximately $8,416,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MGA shares. Wells Fargo & Company cut their target price on shares of Magna International from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, October 3rd. Bank of America raised their target price on shares of Magna International from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. Weiss Ratings restated a “hold (c)” rating on shares of Magna International in a research report on Wednesday, October 8th. Cfra Research upgraded shares of Magna International to a “hold” rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Magna International from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.29.

Magna International Price Performance

Shares of NYSE MGA opened at $43.97 on Tuesday. Magna International Inc. has a twelve month low of $30.39 and a twelve month high of $49.79. The firm has a fifty day simple moving average of $45.62 and a 200 day simple moving average of $40.00. The company has a market capitalization of $12.39 billion, a PE ratio of 10.32, a P/E/G ratio of 0.97 and a beta of 1.53. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, August 1st. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.25. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The business had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same quarter last year, the firm earned $1.35 earnings per share. Magna International’s quarterly revenue was down 3.0% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, August 15th. Magna International’s dividend payout ratio (DPR) is currently 45.54%.

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.