James Investment Research Inc. reduced its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 798,751 shares of the company’s stock after selling 66,116 shares during the quarter. Magna International comprises 1.5% of James Investment Research Inc.’s portfolio, making the stock its 11th biggest holding. James Investment Research Inc.’s holdings in Magna International were worth $45,265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Becker Capital Management Inc. grew its position in Magna International by 2.0% during the third quarter. Becker Capital Management Inc. now owns 804,100 shares of the company’s stock worth $42,923,000 after buying an additional 15,515 shares during the period. Neuberger Berman Group LLC acquired a new position in Magna International during the third quarter worth about $5,333,000. Financial Counselors Inc. acquired a new position in Magna International during the third quarter worth about $258,000. Marathon Asset Management LLP acquired a new position in Magna International during the third quarter worth about $21,107,000. Finally, Bank of New York Mellon Corp grew its position in Magna International by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 515,565 shares of the company’s stock worth $27,521,000 after buying an additional 5,999 shares during the period. Institutional investors own 59.48% of the company’s stock.

Shares of Magna International Inc. (NYSE MGA) traded down $0.31 on Tuesday, hitting $57.97. 791,200 shares of the company traded hands, compared to its average volume of 1,381,271. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $21,120.00, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 0.92 and a beta of 1.50. Magna International Inc. has a fifty-two week low of $39.50 and a fifty-two week high of $59.99.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Thursday, November 9th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.26 billion. Magna International had a net margin of 5.39% and a return on equity of 18.56%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. equities research analysts expect that Magna International Inc. will post 5.97 earnings per share for the current fiscal year.

MGA has been the topic of several recent analyst reports. KeyCorp upped their target price on shares of Magna International from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Goldman Sachs Group lowered shares of Magna International from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $45.00 to $41.00 in a research report on Monday, October 16th. TD Securities reaffirmed a “buy” rating and issued a $56.00 price target on shares of Magna International in a report on Tuesday, October 17th. Bank of America raised shares of Magna International from an “underperform” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Wednesday, October 18th. Finally, ValuEngine raised shares of Magna International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $61.54.

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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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