Quantitative Systematic Strategies LLC reduced its position in Magna International Inc. (NYSE:MGA) by 61.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,182 shares of the company’s stock after selling 27,620 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Magna International were worth $600,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Prentiss Smith & Co. Inc. raised its stake in shares of Magna International by 589.7% in the second quarter. Prentiss Smith & Co. Inc. now owns 174,921 shares of the company’s stock worth $6,134,000 after buying an additional 149,559 shares in the last quarter. Lingohr & Partner Asset Management GmbH increased its stake in shares of Magna International by 7.8% in the second quarter. Lingohr & Partner Asset Management GmbH now owns 79,090 shares of the company’s stock worth $2,774,000 after buying an additional 5,700 shares during the last quarter. James Investment Research Inc. increased its stake in shares of Magna International by 5.9% in the second quarter. James Investment Research Inc. now owns 1,523,704 shares of the company’s stock worth $53,436,000 after buying an additional 84,914 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of Magna International by 7.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 7,850 shares of the company’s stock worth $275,000 after buying an additional 550 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Magna International by 145.2% in the second quarter. Capstone Asset Management Co. now owns 152,411 shares of the company’s stock worth $5,345,000 after buying an additional 90,244 shares during the last quarter. Institutional investors own 58.98% of the company’s stock.
Shares of Magna International Inc. (NYSE:MGA) traded down 0.21% during mid-day trading on Friday, hitting $42.04. 1,129,270 shares of the stock traded hands. The company has a market cap of $16.36 billion, a P/E ratio of 8.04 and a beta of 1.60. The firm has a 50 day moving average of $41.24 and a 200 day moving average of $40.10. Magna International Inc. has a 12 month low of $30.41 and a 12 month high of $53.89.
Magna International (NYSE:MGA) last issued its earnings results on Friday, August 5th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.07. Magna International had a net margin of 6.12% and a return on equity of 21.14%. The firm earned $9.44 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter last year, the company posted $1.29 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. Equities analysts anticipate that Magna International Inc. will post $5.22 EPS for the current fiscal year.
MGA has been the subject of a number of recent research reports. BMO Capital Markets downgraded shares of Magna International from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $50.00 to $36.00 in a research report on Tuesday, June 28th. Wells Fargo & Co. reissued a “hold” rating and set a $41.50 price objective on shares of Magna International in a research report on Monday, July 18th. Royal Bank Of Canada upped their target price on shares of Magna International from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Citigroup Inc. upped their target price on shares of Magna International from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $55.00 target price (up previously from $52.00) on shares of Magna International in a report on Wednesday, August 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $50.32.
Magna International Company Profile
Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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