21,348 Shares in Magna International Inc. $MGA Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP bought a new position in Magna International Inc. (NYSE:MGA) (TSE:MG) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 21,348 shares of the company’s stock, valued at approximately $1,360,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Candriam S.C.A. grew its stake in shares of Magna International by 0.8% in the third quarter. Candriam S.C.A. now owns 269,045 shares of the company’s stock worth $17,243,000 after purchasing an additional 2,138 shares during the last quarter. Ethic Inc. grew its position in shares of Magna International by 246.9% in the 3rd quarter. Ethic Inc. now owns 12,898 shares of the company’s stock valued at $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% in the 3rd quarter. Ascent Group LLC now owns 4,409 shares of the company’s stock valued at $281,000 after buying an additional 624 shares during the last quarter. Integrity Alliance LLC. increased its stake in shares of Magna International by 43.1% in the third quarter. Integrity Alliance LLC. now owns 5,801 shares of the company’s stock valued at $369,000 after buying an additional 1,746 shares during the period. Finally, ARGA Investment Management LP increased its stake in shares of Magna International by 11.0% in the third quarter. ARGA Investment Management LP now owns 4,030,060 shares of the company’s stock valued at $256,706,000 after buying an additional 397,793 shares during the period. 67.49% of the stock is owned by institutional investors.

Magna International Price Performance

MGA opened at $62.70 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.14 and a quick ratio of 0.80. The company has a market capitalization of $16.20 billion, a price-to-earnings ratio of 8.46, a P/E/G ratio of 0.66 and a beta of 1.46. The firm’s fifty day moving average price is $64.47 and its two-hundred day moving average price is $62.99. Magna International Inc. has a 1 year low of $45.33 and a 1 year high of $73.22.

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

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be paid a $0.4950 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.98 annualized dividend and a dividend yield of 3.2%. Magna International’s dividend payout ratio (DPR) is presently 63.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Magna International from $68.00 to $66.00 and set a “sector perform” rating for the company in a research report on Monday, November 2nd. BMO Capital Markets cut Magna International from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $76.00 to $70.00 in a report on Friday, September 18th. Morgan Stanley decreased their target price on shares of Magna International from $69.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, October 15th. Citigroup reduced their price objective on shares of Magna International from $75.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. cut shares of Magna International from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $72.00 in a research report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.