Kendall Capital Management Acquires New Stake in Magna International Inc. $MGA

Kendall Capital Management bought a new position in Magna International Inc. (NYSE:MGA) (TSE:MG) in the second quarter, HoldingsChannel.com reports. The firm bought 17,918 shares of the company’s stock, valued at approximately $1,176,000.

Other large investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new stake in shares of Magna International in the 2nd quarter valued at about $7,473,000. Bank of New York Mellon Corp bought a new stake in shares of Magna International in the second quarter valued at about $28,495,000. Hudson Value Partners LLC acquired a new position in shares of Magna International during the second quarter worth about $609,000. EverSource Wealth Advisors LLC grew its holdings in shares of Magna International by 115.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company’s stock worth $93,000 after buying an additional 896 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Magna International by 43.5% during the first quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after buying an additional 60,432 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MGA. Wells Fargo & Company lifted their target price on Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Barclays upped their price target on Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Magna International from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Citigroup lifted their price objective on shares of Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce cut their price objective on shares of Magna International to $74.00 in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Magna International has an average rating of “Hold” and an average target price of $68.20.

Magna International Price Performance

Shares of NYSE MGA opened at $73.00 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The business has a 50-day moving average of $67.06 and a 200-day moving average of $62.71. The stock has a market capitalization of $19.52 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 0.79 and a beta of 1.44. Magna International Inc. has a fifty-two week low of $43.11 and a fifty-two week high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The business had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. Magna International’s revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, sell-side analysts predict that Magna International Inc. will post 7.07 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.98 annualized dividend and a dividend yield of 2.7%. Magna International’s payout ratio is 71.74%.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.