Magna International Inc. $MGA Shares Sold by Turtle Creek Asset Management Inc.

Turtle Creek Asset Management Inc. lessened its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 43.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 599,801 shares of the company’s stock after selling 459,051 shares during the quarter. Magna International accounts for 1.2% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 24th largest position. Turtle Creek Asset Management Inc.’s holdings in Magna International were worth $33,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ARGA Investment Management LP boosted its holdings in Magna International by 1.1% during the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock worth $223,512,000 after buying an additional 44,996 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Magna International by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock worth $128,774,000 after acquiring an additional 154,710 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Magna International by 7.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after acquiring an additional 151,819 shares during the period. Hillsdale Investment Management Inc. increased its stake in Magna International by 14.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after purchasing an additional 107,150 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Magna International by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock worth $27,215,000 after purchasing an additional 13,439 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MGA. TD lifted their price target on Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. UBS Group lifted their target price on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Citigroup raised their price objective on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce reduced their target price on Magna International to $74.00 in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.73.

Magna International Stock Up 0.2%

MGA opened at $69.16 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 stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44. The business has a 50-day moving average of $65.61 and a two-hundred day moving average of $60.87. Magna International Inc. has a 12 month low of $40.51 and a 12 month high of $70.36.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The business had revenue of $10.13 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the firm posted $0.78 EPS. The company’s revenue was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, research analysts expect that Magna International Inc. will post 6.82 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is 82.85%.

Magna International Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.