Public Employees Retirement System of Ohio Invests $9.16 Million in Magna International Inc. $MGA

Public Employees Retirement System of Ohio purchased a new stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 139,357 shares of the company’s stock, valued at approximately $9,160,000. Public Employees Retirement System of Ohio owned about 0.05% of Magna International as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in shares of Magna International in the 1st quarter worth $45,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Magna International in the 4th quarter worth $49,000. Atlas Capital Advisors Inc. purchased a new position in shares of Magna International in the fourth quarter worth $67,000. Finally, Danske Bank A S purchased a new position in shares of Magna International in the third quarter worth $112,000. Institutional investors own 67.49% of the company’s stock.

Magna International Price Performance

Shares of NYSE:MGA opened at $65.57 on Tuesday. The firm’s 50 day moving average price is $67.12 and its 200-day moving average price is $63.31. Magna International Inc. has a twelve month low of $43.11 and a twelve month high of $73.22. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $17.53 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The company had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts expect that Magna International Inc. will post 7.07 EPS for the current year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 14th. Magna International’s dividend payout ratio (DPR) is currently 71.74%.

Analyst Ratings Changes

Several equities research analysts recently commented on MGA shares. Wells Fargo & Company lifted their price objective on Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on shares of Magna International from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Barclays raised their price target on shares of Magna International from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $68.20.

Magna International 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.