Schroder Investment Management Group Acquires 28,024 Shares of Magna International, Inc. (MGA)

Schroder Investment Management Group grew its holdings in Magna International, Inc. (NYSE:MGA) (TSE:MG) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,166,272 shares of the company’s stock after acquiring an additional 28,024 shares during the period. Schroder Investment Management Group owned about 0.32% of Magna International worth $77,207,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Westwood Management Corp IL purchased a new stake in shares of Magna International in the 3rd quarter valued at $214,000. IFP Advisors Inc boosted its holdings in Magna International by 19.5% during the second quarter. IFP Advisors Inc now owns 4,011 shares of the company’s stock worth $186,000 after buying an additional 654 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Magna International by 17.2% during the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock worth $197,000 after buying an additional 625 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in Magna International during the second quarter worth $247,000. Finally, Laurel Wealth Advisors Inc. boosted its holdings in Magna International by 5.1% during the second quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock worth $248,000 after buying an additional 261 shares in the last quarter. 59.66% of the stock is currently owned by institutional investors and hedge funds.

Magna International, Inc. (NYSE MGA) traded up $0.90 during trading hours on Wednesday, reaching $54.98. 800,200 shares of the company’s stock were exchanged, compared to its average volume of 1,366,150. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market capitalization of $19,960.00, a PE ratio of 9.66, a PEG ratio of 0.96 and a beta of 1.50. Magna International, Inc. has a 52 week low of $39.50 and a 52 week high of $55.76.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Thursday, November 9th. The company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.05. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $9.26 billion. Magna International had a net margin of 5.63% and a return on equity of 19.46%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. equities research analysts predict that Magna International, Inc. will post 5.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Wednesday, November 22nd. Magna International’s dividend payout ratio is presently 19.61%.

MGA has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Magna International from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Thursday, September 14th. KeyCorp reissued a “buy” rating on shares of Magna International in a report on Sunday, September 17th. Citigroup increased their price target on shares of Magna International from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. TD Securities increased their price target on shares of Magna International from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Finally, Deutsche Bank reissued a “buy” rating and set a $61.00 price target (up from $59.00) on shares of Magna International in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $56.00.

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Magna International Company Profile

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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