Crossmark Global Holdings Inc. Boosts Position in Magna International Inc. (MGA)

Crossmark Global Holdings Inc. increased its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 172,017 shares of the company’s stock after purchasing an additional 358 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Magna International were worth $8,376,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MGA. Norges Bank bought a new stake in shares of Magna International in the 4th quarter worth approximately $162,620,000. Ellis Investment Partners LLC raised its holdings in Magna International by 4,787.7% during the 1st quarter. Ellis Investment Partners LLC now owns 1,906,688 shares of the company’s stock valued at $1,906,000 after acquiring an additional 1,867,678 shares during the period. Miller Howard Investments Inc. NY bought a new stake in Magna International during the 1st quarter valued at $72,126,000. Neuberger Berman Group LLC raised its holdings in Magna International by 84.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 497,467 shares of the company’s stock valued at $26,132,000 after acquiring an additional 227,635 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in Magna International by 29.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 407,193 shares of the company’s stock valued at $18,505,000 after acquiring an additional 93,625 shares during the period. 60.18% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of Magna International from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Zacks Investment Research cut shares of Magna International from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Wolfe Research cut shares of Magna International from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 1st. TD Securities cut shares of Magna International from a “buy” rating to a “hold” rating and boosted their target price for the company from $59.00 to $61.00 in a report on Friday, February 22nd. Finally, Wells Fargo & Co reissued a “buy” rating and set a $63.00 target price (up previously from $62.00) on shares of Magna International in a report on Friday, February 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Magna International presently has an average rating of “Hold” and a consensus target price of $64.09.

MGA opened at $53.64 on Wednesday. The firm has a market cap of $17.66 billion, a PE ratio of 7.99, a PEG ratio of 1.31 and a beta of 1.45. The company has a quick ratio of 0.82, a current ratio of 1.15 and a debt-to-equity ratio of 0.28. Magna International Inc. has a one year low of $42.88 and a one year high of $67.47.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, February 22nd. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The firm had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.15 billion. Magna International had a net margin of 5.62% and a return on equity of 20.00%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 EPS. Sell-side analysts forecast that Magna International Inc. will post 6.96 EPS for the current fiscal year.

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Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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

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