Public Employees Retirement System of Ohio Raises Holdings in Magna International Inc. $MGA

Public Employees Retirement System of Ohio grew its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 43.5% in the first quarter, Holdings Channel reports. The firm owned 199,358 shares of the company’s stock after buying an additional 60,432 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Magna International were worth $11,095,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Oslo Pensjonsforsikring AS bought a new position in shares of Magna International during the first quarter valued at $45,000. Parallel Advisors LLC boosted its position in shares of Magna International by 9.1% during the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after buying an additional 275 shares during the last quarter. Mediolanum International Funds Ltd boosted its position in shares of Magna International by 83.1% during the first quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock valued at $7,210,000 after buying an additional 61,151 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Magna International by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock worth $27,215,000 after buying an additional 13,439 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in Magna International by 14.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after buying an additional 107,150 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Trading Down 0.1%

Shares of Magna International stock opened at $65.63 on Monday. The company’s fifty day simple moving average is $65.10 and its 200-day simple moving average is $60.62. The stock has a market capitalization of $17.55 billion, a PE ratio of 27.46, a P/E/G ratio of 0.90 and a beta of 1.44. Magna International Inc. has a 1-year low of $40.51 and a 1-year high of $69.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.37. The firm had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.14 billion. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities analysts anticipate that Magna International Inc. will post 6.82 earnings per share for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s payout ratio is currently 82.85%.

Analysts Set New Price Targets

Several research firms have issued reports on MGA. The Goldman Sachs Group lowered their target price on shares of Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research note on Tuesday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of Magna International from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Barclays decreased their price objective on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Zacks Research downgraded shares of Magna International from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Canadian Imperial Bank of Commerce dropped their target price on shares of Magna International to $74.00 in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Magna International has a consensus rating of “Hold” and an average target price of $65.73.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.