Magna International (TSE:MG) Insider Bruce Cluney Sells 5,000 Shares of Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Bruce Cluney sold 5,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of C$95.22, for a total value of C$476,100.00. Following the sale, the insider directly owned 40,239 shares of the company’s stock, valued at approximately C$3,831,557.58. This trade represents a 11.05% decrease in their position.

Magna International Stock Up 1.9%

Shares of Magna International stock opened at C$100.49 on Thursday. The company has a debt-to-equity ratio of 15.82, a quick ratio of 0.83 and a current ratio of 1.22. The stock has a market capitalization of C$27.78 billion, a price-to-earnings ratio of 36.94, a P/E/G ratio of 0.45 and a beta of 2.11. Magna International Inc. has a 52-week low of C$57.31 and a 52-week high of C$101.10. The company’s 50 day moving average price is C$93.03 and its 200-day moving average price is C$84.98.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings results on Friday, July 31st. The company reported C$2.64 EPS for the quarter. The business had revenue of C$15.60 billion during the quarter. Magna International had a return on equity of 6.15% and a net margin of 1.77%. Equities research analysts forecast that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 28th 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 2.0%. Magna International’s dividend payout ratio (DPR) is 72.06%.

Analysts Set New Price Targets

Several equities analysts have issued reports on MG shares. Scotiabank upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Veritas raised shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Strong Buy”.

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.