Janney Montgomery Scott LLC Has $6.81 Million Position in Magna International Inc. (NYSE:MGA)

Posted by on Apr 21st, 2023

Janney Montgomery Scott LLC lowered its holdings in shares of Magna International Inc. (NYSE:MGA – Get Rating) (TSE:MG) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,297 shares of the company’s stock after selling 1,389 shares during the period. Janney Montgomery Scott LLC’s holdings in Magna International were worth $6,814,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MGA. Knights of Columbus Asset Advisors LLC raised its holdings in Magna International by 6.7% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 3,017 shares of the company’s stock worth $143,000 after purchasing an additional 189 shares during the last quarter. Stanley Laman Group Ltd. raised its holdings in Magna International by 0.4% during the 4th quarter. Stanley Laman Group Ltd. now owns 51,486 shares of the company’s stock worth $2,892,000 after purchasing an additional 192 shares during the last quarter. Resources Management Corp CT ADV raised its holdings in Magna International by 4.4% during the 3rd quarter. Resources Management Corp CT ADV now owns 5,483 shares of the company’s stock worth $260,000 after purchasing an additional 232 shares during the last quarter. SG Americas Securities LLC raised its holdings in Magna International by 2.7% during the 3rd quarter. SG Americas Securities LLC now owns 17,621 shares of the company’s stock worth $836,000 after purchasing an additional 465 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Magna International by 11.7% during the 3rd quarter. Van ECK Associates Corp now owns 4,455 shares of the company’s stock worth $211,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 59.63% of the company’s stock.

Magna International Trading Down 1.2 %

Shares of Magna International stock opened at $53.03 on Friday. Magna International Inc. has a 12-month low of $45.58 and a 12-month high of $68.92. The business’s 50 day moving average is $53.58 and its 200-day moving average is $56.71. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 0.25. The stock has a market cap of $15.17 billion, a P/E ratio of 26.38, a P/E/G ratio of 0.61 and a beta of 1.59.

Magna International (NYSE:MGA – Get Rating) (TSE:MG) last posted its quarterly earnings results on Friday, February 10th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.33). Magna International had a net margin of 1.56% and a return on equity of 10.49%. The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.51 billion. During the same quarter last year, the company posted $1.30 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. Equities research analysts predict that Magna International Inc. will post 4.53 earnings per share for the current fiscal year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, February 23rd. This is a boost from Magna International’s previous quarterly dividend of $0.45. Magna International’s dividend payout ratio is 91.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James decreased their target price on Magna International from $62.00 to $56.00 and set a “market perform” rating for the company in a research report on Monday, February 13th. Wells Fargo & Company boosted their price objective on Magna International from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, April 10th. Bank of America lowered Magna International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $102.00 to $72.00 in a research report on Monday, January 9th. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research report on Wednesday, April 12th. Finally, BMO Capital Markets decreased their price objective on Magna International from C$74.00 to C$65.00 and set an “outperform” rating for the company in a research report on Monday, February 13th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Magna International has a consensus rating of “Hold” and a consensus price target of $61.58.

Magna International Company Profile

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Magna International, Inc is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems, and roof systems operations.

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

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