Magna International (TSE:MG) Insider Sells C$2,818,471.43 in Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider John Hugh Farrell sold 31,523 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total value of C$2,818,471.43. Following the completion of the sale, the insider owned 50,020 shares in the company, valued at approximately C$4,472,288.20. This represents a 38.66% decrease in their ownership of the stock.

Magna International Stock Performance

MG traded up C$1.82 during trading hours on Wednesday, hitting C$91.94. The company’s stock had a trading volume of 244,387 shares, compared to its average volume of 1,445,099. Magna International Inc. has a fifty-two week low of C$48.50 and a fifty-two week high of C$95.18. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. The firm has a market capitalization of C$25.41 billion, a PE ratio of 38.79, a PEG ratio of 0.45 and a beta of 2.05. The company has a 50-day simple moving average of C$81.14 and a 200 day simple moving average of C$77.40.

Magna International (TSE:MG) (NYSE:MGA) last posted its earnings results on Friday, May 1st. The company reported C$1.92 EPS for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The firm had revenue of C$14.43 billion for the quarter. As a group, sell-side analysts expect that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, May 15th. Magna International’s dividend payout ratio (DPR) is currently 82.28%.

Wall Street Analyst Weigh In

Several research firms recently commented on MG. Canadian Imperial Bank of Commerce upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$61.00.

Magna International Company Profile

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.