Magna International Inc. Plans Quarterly Dividend of $0.49 (NYSE:MGA)

Magna International Inc. (NYSE:MGA) (TSE:MG) announced a quarterly dividend on Friday, July 31st. Stockholders of record on Friday, August 14th will be given a dividend of 0.495 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 14th.

Magna International has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 6 years. Magna International has a payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Magna International to earn $7.68 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 25.8%.

Magna International Price Performance

Shares of MGA traded down $1.19 during trading hours on Friday, hitting $68.66. 2,533,746 shares of the company were exchanged, compared to its average volume of 1,646,350. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. Magna International has a fifty-two week low of $40.51 and a fifty-two week high of $70.36. The company has a market cap of $18.36 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 0.94 and a beta of 1.44. The firm’s fifty day moving average is $65.75 and its 200 day moving average is $60.97.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a net margin of 1.60% and a return on equity of 14.01%. Magna International’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, equities analysts anticipate that Magna International will post 6.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

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

Magna International Company 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.