Todd Asset Management LLC lessened its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 1.0% in the third quarter, HoldingsChannel.com reports. The firm owned 411,472 shares of the company’s stock after selling 4,306 shares during the period. Todd Asset Management LLC’s holdings in Magna International were worth $21,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MGA. Toronto Dominion Bank boosted its holdings in Magna International by 111.8% in the second quarter. Toronto Dominion Bank now owns 2,118,571 shares of the company’s stock worth $122,854,000 after purchasing an additional 1,118,411 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Magna International by 25.6% during the third quarter. Russell Investments Group Ltd. now owns 1,575,923 shares of the company’s stock valued at $82,485,000 after acquiring an additional 320,758 shares during the period. Hexavest Inc. acquired a new position in shares of Magna International during the third quarter valued at $10,275,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Magna International by 19.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 981,005 shares of the company’s stock valued at $57,021,000 after acquiring an additional 159,090 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Magna International by 10.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,308,221 shares of the company’s stock valued at $76,091,000 after acquiring an additional 122,538 shares during the period. 59.78% of the stock is owned by hedge funds and other institutional investors.

MGA stock opened at $50.29 on Tuesday. The stock has a market capitalization of $16.76 billion, a P/E ratio of 8.44, a P/E/G ratio of 0.88 and a beta of 1.32. Magna International Inc. has a fifty-two week low of $45.73 and a fifty-two week high of $67.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 0.86.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Thursday, November 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Magna International had a net margin of 5.83% and a return on equity of 19.98%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the previous year, the business earned $1.36 earnings per share. Magna International’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Magna International Inc. will post 6.7 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.62%. The ex-dividend date is Wednesday, November 21st. Magna International’s dividend payout ratio (DPR) is presently 22.15%.

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Magna International from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. Wolfe Research assumed coverage on shares of Magna International in a report on Tuesday, October 2nd. They set an “outperform” rating for the company. Morgan Stanley reduced their price target on shares of Magna International from $53.00 to $48.00 and set a “sell” rating for the company in a report on Monday, August 13th. Citigroup reduced their price target on shares of Magna International from $77.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, August 9th. Finally, ValuEngine downgraded shares of Magna International from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. Magna International presently has an average rating of “Buy” and an average target price of $67.07.

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Magna International Profile

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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