FTB Advisors Inc. Has $186,000 Stake in Magna International Inc. (MGA)

FTB Advisors Inc. maintained its position in shares of Magna International Inc. (NYSE:MGA) during the second quarter, Holdings Channel reports. The institutional investor owned 5,315 shares of the company’s stock at the end of the second quarter. FTB Advisors Inc.’s holdings in Magna International were worth $186,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MGA. Sentry Investments Corp. boosted its position in shares of Magna International by 7.9% in the first quarter. Sentry Investments Corp. now owns 3,164,800 shares of the company’s stock worth $176,691,000 after buying an additional 231,800 shares during the last quarter. Cornerstone Investment Partners LLC boosted its position in shares of Magna International by 4.9% in the second quarter. Cornerstone Investment Partners LLC now owns 2,568,915 shares of the company’s stock worth $90,092,000 after buying an additional 119,323 shares during the last quarter. James Investment Research Inc. boosted its position in shares of Magna International by 5.9% in the second quarter. James Investment Research Inc. now owns 1,523,704 shares of the company’s stock worth $53,436,000 after buying an additional 84,914 shares during the last quarter. DNB Asset Management AS boosted its position in shares of Magna International by 29.2% in the second quarter. DNB Asset Management AS now owns 1,064,753 shares of the company’s stock worth $37,341,000 after buying an additional 240,776 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Magna International by 4.0% in the first quarter. Panagora Asset Management Inc. now owns 195,252 shares of the company’s stock worth $8,388,000 after buying an additional 7,450 shares during the last quarter. Institutional investors own 58.98% of the company’s stock.

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

Magna International Inc. (NYSE:MGA) traded down 3.61% during midday trading on Tuesday, reaching $40.07. 2,304,727 shares of the company traded hands. The stock has a market capitalization of $15.59 billion, a P/E ratio of 7.66 and a beta of 1.60. The company has a 50 day moving average price of $41.33 and a 200-day moving average price of $40.05. Magna International Inc. has a one year low of $30.41 and a one year high of $53.89.

Magna International (NYSE:MGA) last released its earnings results on Friday, August 5th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.07. The firm earned $9.44 billion during the quarter, compared to analyst estimates of $9.24 billion. Magna International had a net margin of 6.12% and a return on equity of 21.14%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $1.29 EPS. Analysts forecast that Magna International Inc. will post $5.22 EPS for the current fiscal year.

A number of research firms have issued reports on MGA. Citigroup Inc. boosted their price objective on shares of Magna International from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, August 8th. RBC Capital Markets restated an “outperform” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Magna International in a research report on Wednesday, August 10th. Royal Bank Of Canada boosted their price objective on shares of Magna International from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, August 30th. Finally, Wells Fargo & Co. restated a “hold” rating and issued a $41.50 price objective on shares of Magna International in a research report on Monday, July 18th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Magna International has a consensus rating of “Buy” and a consensus price target of $50.32.

Magna International Company Profile

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

5 Day Chart for NYSE:MGA

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