Insider Selling: Magna International (TSE:MG) Insider Sells 34,672 Shares of Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Eric Jon Wilds Wilds sold 34,672 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total value of C$3,165,900.32. Following the completion of the transaction, the insider directly owned 38,756 shares in the company, valued at C$3,538,810.36. This trade represents a 47.22% decrease in their position.

Magna International Stock Performance

Shares of TSE MG traded down C$0.91 during trading on Thursday, hitting C$90.86. The company had a trading volume of 378,928 shares, compared to its average volume of 1,450,891. The stock has a 50 day simple moving average of C$81.44 and a 200 day simple moving average of C$77.55. The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22. Magna International Inc. has a 12 month low of C$48.50 and a 12 month high of C$95.18. The firm has a market capitalization of C$25.12 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 0.45 and a beta of 2.05.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. The company had revenue of C$14.43 billion for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%. As a group, analysts anticipate that Magna International Inc. will post 8.8948171 earnings per share 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 paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, May 15th. Magna International’s dividend payout ratio (DPR) is 82.28%.

Analyst Ratings Changes

Several research firms have commented on MG. Veritas raised shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Finally, Scotiabank raised Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price 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.