Financial Counselors Inc. Takes Position in Magna International, Inc. (MGA)

Financial Counselors Inc. bought a new position in Magna International, Inc. (NYSE:MGA) (TSE:MG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,826 shares of the company’s stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westwood Management Corp IL acquired a new stake in shares of Magna International during the third quarter valued at approximately $214,000. IFP Advisors Inc raised its holdings in shares of Magna International by 19.5% during the second quarter. IFP Advisors Inc now owns 4,011 shares of the company’s stock valued at $186,000 after acquiring an additional 654 shares during the period. Advisory Services Network LLC raised its holdings in shares of Magna International by 17.2% during the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after acquiring an additional 625 shares during the period. Laurel Wealth Advisors Inc. raised its holdings in shares of Magna International by 5.1% during the second quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock valued at $248,000 after acquiring an additional 261 shares during the period. Finally, Bank of Hawaii raised its holdings in shares of Magna International by 26.5% during the second quarter. Bank of Hawaii now owns 7,057 shares of the company’s stock valued at $327,000 after acquiring an additional 1,479 shares during the period. Institutional investors and hedge funds own 59.66% of the company’s stock.

Magna International, Inc. (NYSE MGA) traded down $0.37 during mid-day trading on Thursday, reaching $55.02. 519,100 shares of the company’s stock traded hands, compared to its average volume of 1,351,856. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market capitalization of $20,016.16, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.98 and a beta of 1.49. Magna International, Inc. has a 12 month low of $39.50 and a 12 month high of $56.82.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Thursday, November 9th. The company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.05. The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.26 billion. Magna International had a net margin of 5.63% and a return on equity of 19.46%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. sell-side analysts expect that Magna International, Inc. will post 5.96 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, November 22nd. Magna International’s dividend payout ratio is 19.61%.

MGA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, September 6th. Morgan Stanley downgraded shares of Magna International from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $56.00 to $47.00 in a research report on Monday, August 28th. Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $45.00 to $41.00 in a research report on Monday, October 16th. KeyCorp boosted their price objective on shares of Magna International from $55.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, ValuEngine downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $56.00.

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Magna International Company Profile

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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