Magna International (TSE:MG) Insider Sells C$3,630,061.80 in Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Tom Rucker Joerg sold 39,210 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the transaction, the insider owned 31,633 shares in the company, valued at approximately C$2,928,583.14. This trade represents a 55.35% decrease in their ownership of the stock.

Magna International Stock Performance

Shares of MG stock traded down C$0.08 during trading hours on Thursday, reaching C$94.62. 430,281 shares of the company’s stock were exchanged, compared to its average volume of 1,453,307. The company’s 50 day moving average is C$83.26 and its two-hundred day moving average is C$78.33. The company has a market cap of C$26.16 billion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 0.45 and a beta of 2.05. The company has a debt-to-equity ratio of 56.24, a current ratio of 1.22 and a quick ratio of 0.83. Magna International Inc. has a 1 year low of C$48.97 and a 1 year high of C$96.00.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, May 1st. The company reported C$1.92 EPS for the quarter. The company had revenue of C$14.43 billion for the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. Equities research analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were issued a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.1%. Magna International’s dividend payout ratio is currently 82.28%.

Analyst Ratings Changes

MG has been the topic of several recent research reports. Canadian Imperial Bank of Commerce raised Magna International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Magna International presently has an average rating of “Buy” and a consensus price target of C$61.00.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.