UBS Group AG increased its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 2.4% in the 1st quarter, HoldingsChannel reports. The fund owned 256,989 shares of the company’s stock after purchasing an additional 5,971 shares during the period. UBS Group AG’s holdings in Magna International were worth $14,481,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Horizon Investment Services LLC lifted its stake in Magna International by 69.1% in the 1st quarter. Horizon Investment Services LLC now owns 78,334 shares of the company’s stock worth $4,414,000 after acquiring an additional 32,004 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Magna International by 2.8% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 39,756 shares of the company’s stock worth $2,236,000 after acquiring an additional 1,092 shares in the last quarter. Edgemoor Investment Advisors Inc. lifted its stake in Magna International by 3.2% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 47,057 shares of the company’s stock worth $2,652,000 after acquiring an additional 1,440 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in Magna International by 43.3% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 45,350 shares of the company’s stock worth $2,555,000 after acquiring an additional 13,700 shares in the last quarter. Finally, Koch Industries Inc. lifted its stake in Magna International by 43.6% in the 1st quarter. Koch Industries Inc. now owns 17,132 shares of the company’s stock worth $965,000 after acquiring an additional 5,204 shares in the last quarter. 60.46% of the stock is owned by hedge funds and other institutional investors.

MGA opened at $62.73 on Friday. Magna International Inc. has a fifty-two week low of $44.55 and a fifty-two week high of $67.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.24 and a quick ratio of 0.89. The stock has a market cap of $22.01 billion, a PE ratio of 10.53, a PEG ratio of 1.04 and a beta of 1.34.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Thursday, May 10th. The company reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.18. Magna International had a return on equity of 19.64% and a net margin of 5.65%. The company had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.02 billion. During the same period last year, the business earned $1.53 EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis. research analysts forecast that Magna International Inc. will post 7.06 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were paid a dividend of $0.257 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, May 24th. Magna International’s dividend payout ratio (DPR) is presently 22.15%.

Several equities research analysts recently issued reports on MGA shares. Susquehanna Bancshares set a $57.00 price objective on Magna International and gave the stock a “hold” rating in a research note on Wednesday, March 14th. Morgan Stanley downgraded Magna International from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective for the company. in a research note on Thursday, March 22nd. BMO Capital Markets raised Magna International from a “market perform” rating to an “outperform” rating in a research note on Monday, May 14th. JPMorgan Chase & Co. increased their price objective on Magna International from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, June 4th. Finally, Scotiabank reduced their price objective on Magna International from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, May 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.13.

About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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

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