Magna International Inc. $MGA Shares Sold by IPG Investment Advisors LLC

IPG Investment Advisors LLC cut its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 62.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,670 shares of the company’s stock after selling 21,310 shares during the period. IPG Investment Advisors LLC’s holdings in Magna International were worth $832,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC grew its stake in shares of Magna International by 35.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Magna International by 2.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock worth $439,000 after purchasing an additional 215 shares during the period. Van ECK Associates Corp lifted its holdings in Magna International by 2.6% in the fourth quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock worth $486,000 after purchasing an additional 235 shares during the period. Integrated Wealth Concepts LLC grew its position in Magna International by 1.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock valued at $675,000 after buying an additional 246 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Magna International by 9.1% during the 1st 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 period. Institutional investors own 67.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup boosted their price target on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Wells Fargo & Company raised their price objective on shares of Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Wall Street Zen raised Magna International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Morgan Stanley upped their target price on Magna International from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Weiss Ratings raised Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.20.

Magna International Stock Performance

Shares of MGA opened at $65.57 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The firm’s 50 day moving average is $67.41 and its 200-day moving average is $63.41. Magna International Inc. has a 12-month low of $43.11 and a 12-month high of $73.22. The stock has a market capitalization of $17.37 billion, a P/E ratio of 23.76, a P/E/G ratio of 0.71 and a beta of 1.45.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.53 by $0.33. The business had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts anticipate that Magna International Inc. will post 7.06 EPS for the current fiscal year.

Magna International Dividend Announcement

The business 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 is 71.74%.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.