Schroder Investment Management Group trimmed its position in shares of Magna International, Inc. (NYSE:MGA) (TSE:MG) by 38.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,138,248 shares of the company’s stock after selling 714,320 shares during the quarter. Schroder Investment Management Group owned 0.30% of Magna International worth $67,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RKL Wealth Management LLC bought a new position in shares of Magna International during the 1st quarter valued at $455,000. Geneva Advisors LLC bought a new position in shares of Magna International during the 2nd quarter valued at $613,000. DnB Asset Management AS lifted its holdings in shares of Magna International by 1.8% during the 2nd quarter. DnB Asset Management AS now owns 1,563,041 shares of the company’s stock valued at $72,416,000 after buying an additional 27,384 shares during the period. Timber Hill LLC bought a new position in shares of Magna International during the 1st quarter valued at $852,000. Finally, Benson Investment Management Company Inc. lifted its holdings in shares of Magna International by 4.0% during the 2nd quarter. Benson Investment Management Company Inc. now owns 54,440 shares of the company’s stock valued at $2,522,000 after buying an additional 2,095 shares during the period. 59.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Magna International, Inc. (MGA) opened at 48.50 on Friday. The stock has a 50 day moving average price of $47.45 and a 200 day moving average price of $44.78. Magna International, Inc. has a 1-year low of $36.77 and a 1-year high of $49.40. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 8.76 and a beta of 1.43.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, August 11th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. The business had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.50 billion. Magna International had a net margin of 5.73% and a return on equity of 20.01%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Equities research analysts anticipate that Magna International, Inc. will post $5.89 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.27%. Magna International’s dividend payout ratio (DPR) is currently 19.86%.

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Several equities analysts have recently weighed in on MGA shares. Zacks Investment Research cut Magna International from a “buy” rating to a “hold” rating in a report on Thursday, May 18th. ValuEngine cut Magna International from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Citigroup Inc. increased their price target on Magna International from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Royal Bank Of Canada increased their price target on Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, August 14th. Finally, BidaskClub raised Magna International from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $52.80.

About Magna International

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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