Magna International Inc. $MGA Holdings Lowered by Leuthold Group LLC

Leuthold Group LLC lowered its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 93.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,839 shares of the company’s stock after selling 132,137 shares during the quarter. Leuthold Group LLC’s holdings in Magna International were worth $626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MGA. Fulcrum Asset Management LLP acquired a new stake in shares of Magna International during the third quarter worth $1,360,000. Candriam S.C.A. lifted its stake in Magna International by 0.8% in the third quarter. Candriam S.C.A. now owns 269,045 shares of the company’s stock valued at $17,243,000 after buying an additional 2,138 shares during the period. Ethic Inc. boosted its holdings in Magna International by 246.9% during the third quarter. Ethic Inc. now owns 12,898 shares of the company’s stock worth $821,000 after buying an additional 9,180 shares during the last quarter. Ascent Group LLC grew its position in shares of Magna International by 16.5% during the 3rd quarter. Ascent Group LLC now owns 4,409 shares of the company’s stock worth $281,000 after buying an additional 624 shares during the period. Finally, Integrity Alliance LLC. grew its position in shares of Magna International by 43.1% during the 3rd quarter. Integrity Alliance LLC. now owns 5,801 shares of the company’s stock worth $369,000 after buying an additional 1,746 shares during the period. 67.49% of the stock is currently owned by institutional investors.

Magna International Stock Down 1.5%

NYSE:MGA opened at $61.35 on Wednesday. Magna International Inc. has a 1 year low of $45.33 and a 1 year high of $73.22. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.67 and a beta of 1.46. The stock has a 50-day moving average price of $64.49 and a two-hundred day moving average price of $62.94.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, October 30th. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.25. The business had revenue of $9.86 billion for the quarter, compared to analysts’ expectations of $10.01 billion. Magna International had a return on equity of 16.26% and a net margin of 1.99%. Magna International’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 EPS. As a group, equities analysts expect that Magna International Inc. will post 7.07 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.4950 per share. This represents a $1.98 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 13th. Magna International’s dividend payout ratio is 63.46%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MGA. TD cut their price target on shares of Magna International from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Magna International in a research note on Tuesday, October 27th. Morgan Stanley decreased their price objective on shares of Magna International from $69.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday, October 15th. Wall Street Zen downgraded shares of Magna International from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Scotiabank increased their target price on shares of Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.33.

About Magna International

Magna International is a Canadian mobility technology supplier that designs and manufactures components, systems and complete vehicles for automakers. Its products and services support a range of vehicle types, including those with electric and advanced driver-assistance technologies. The company’s operations include body and exterior systems, seating, powertrain and electronics, as well as vehicle engineering and contract manufacturing. Its portfolio also includes products such as mirrors, lighting systems and roof systems.