Nisa Investment Advisors LLC Raises Position in Magna International Inc. (MGA)

Nisa Investment Advisors LLC increased its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 122.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,230 shares of the company’s stock after acquiring an additional 3,430 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Magna International were worth $327,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Midas Management Corp raised its stake in Magna International by 16.0% during the third quarter. Midas Management Corp now owns 61,500 shares of the company’s stock valued at $3,231,000 after purchasing an additional 8,500 shares in the last quarter. Glen Harbor Capital Management LLC purchased a new stake in Magna International during the second quarter valued at $140,000. Nomura Holdings Inc. raised its stake in Magna International by 48.8% during the second quarter. Nomura Holdings Inc. now owns 11,047 shares of the company’s stock valued at $642,000 after purchasing an additional 3,624 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in Magna International by 46.6% during the third quarter. Nikko Asset Management Americas Inc. now owns 136,480 shares of the company’s stock valued at $7,572,000 after purchasing an additional 43,396 shares in the last quarter. Finally, Meadow Creek Investment Management LLC purchased a new stake in Magna International during the second quarter valued at $116,000. Hedge funds and other institutional investors own 59.65% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. TD Securities decreased their price target on shares of Magna International from $70.00 to $65.00 and set a “hold” rating on the stock in a research note on Monday. Wells Fargo & Co decreased their price target on shares of Magna International from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 17th. Citigroup decreased their price target on shares of Magna International from $69.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, October 12th. Barclays assumed coverage on shares of Magna International in a research note on Wednesday, October 10th. They set an “equal weight” rating on the stock. Finally, ValuEngine downgraded shares of Magna International from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.67.

Shares of MGA opened at $50.65 on Friday. Magna International Inc. has a twelve month low of $45.73 and a twelve month high of $67.47. The firm has a market capitalization of $16.49 billion, a PE ratio of 8.50, a PEG ratio of 0.85 and a beta of 1.36. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Wednesday, August 8th. The company reported $1.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.07). Magna International had a net margin of 5.72% and a return on equity of 19.72%. The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.45 billion. During the same period in the prior year, the company posted $1.48 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts predict that Magna International Inc. will post 6.77 earnings per share for the current year.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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

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