Magna International (TSE:MG) Insider Sells C$3,165,900.32 in Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Eric Jon Wilds Wilds sold 34,672 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total transaction of C$3,165,900.32. Following the completion of the sale, the insider directly owned 38,756 shares in the company, valued at C$3,538,810.36. This trade represents a 47.22% decrease in their ownership of the stock.

Magna International Trading Down 1.0%

Magna International stock traded down C$0.91 during midday trading on Thursday, reaching C$90.86. The stock had a trading volume of 378,928 shares, compared to its average volume of 1,450,891. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 56.24. Magna International Inc. has a 52-week low of C$48.50 and a 52-week high of C$95.18. The firm has a market cap of C$25.12 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 0.45 and a beta of 2.05. The company has a fifty day moving average of C$81.44 and a 200 day moving average of C$77.55.

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

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, May 15th. Magna International’s dividend payout ratio is 82.28%.

Analyst Upgrades and Downgrades

MG has been the topic of several research analyst reports. Veritas raised Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce raised Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Scotiabank raised Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Magna International currently has a consensus rating of “Buy” and a consensus target price 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.