Magna International (TSE:MG) Insider Tom Rucker Joerg Sells 39,210 Shares of Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Tom Rucker Joerg sold 39,210 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$92.58, for a total value of C$3,630,061.80. Following the transaction, the insider owned 31,633 shares in the company, valued at approximately C$2,928,583.14. The trade was a 55.35% decrease in their ownership of the stock.

Magna International Price Performance

MG opened at C$94.71 on Friday. The stock’s 50 day simple moving average is C$83.64 and its 200 day simple moving average is C$78.51. The company has a debt-to-equity ratio of 56.24, a current ratio of 1.22 and a quick ratio of 0.83. Magna International Inc. has a 1 year low of C$48.97 and a 1 year high of C$96.00. The firm has a market cap of C$26.18 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 0.45 and a beta of 2.05.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings results on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. The business had revenue of C$14.43 billion for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%. As a group, analysts predict that Magna International Inc. will post 8.8948171 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is currently 82.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$61.00.

Magna International Company Profile

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.