Triasima Portfolio Management inc. Purchases 66,500 Shares of Magna International Inc. $MGA

Triasima Portfolio Management inc. raised its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 51.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,740 shares of the company’s stock after purchasing an additional 66,500 shares during the quarter. Magna International accounts for approximately 1.6% of Triasima Portfolio Management inc.’s portfolio, making the stock its 19th largest holding. Triasima Portfolio Management inc.’s holdings in Magna International were worth $12,435,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Magna International by 7.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 15,008 shares of the company’s stock worth $956,000 after purchasing an additional 1,003 shares during the period. Veracity Capital LLC acquired a new stake in Magna International during the 3rd quarter worth approximately $286,000. Steph & Co. increased its position in Magna International by 2.1% during the 3rd quarter. Steph & Co. now owns 8,373 shares of the company’s stock worth $533,000 after purchasing an additional 172 shares in the last quarter. Versant Capital Management Inc raised its holdings in Magna International by 53.9% in the third quarter. Versant Capital Management Inc now owns 1,171 shares of the company’s stock valued at $75,000 after buying an additional 410 shares during the period. Finally, Andra AP fonden raised its holdings in Magna International by 1.1% in the second quarter. Andra AP fonden now owns 28,200 shares of the company’s stock valued at $1,852,000 after buying an additional 300 shares during the period. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MGA. Wall Street Zen cut shares of Magna International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. BMO Capital Markets reiterated a “market perform” rating and set a $70.00 price objective (down from $76.00) on shares of Magna International in a research note on Friday, September 18th. UBS Group increased their price objective on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company increased their price objective on shares of Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Scotiabank raised their target price on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $69.13.

Magna International Trading Up 2.9%

Shares of MGA opened at $66.33 on Friday. The stock’s 50-day moving average is $66.28 and its two-hundred day moving average is $64.48. The stock has a market cap of $17.57 billion, a PE ratio of 9.55, a P/E/G ratio of 0.68 and a beta of 1.46. Magna International Inc. has a 12 month low of $44.33 and a 12 month high of $73.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, July 31st. The company reported $1.86 earnings per share 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 company had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities analysts forecast that Magna International Inc. will post 7.06 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.4950 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.98 annualized dividend and a yield of 3.0%. Magna International’s payout ratio is 71.74%.

Magna International Profile

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.