Magna International (MG) Hits New 1-Year High at $75.88

Magna International (TSE:MG) (NYSE:MGA) shares reached a new 52-week high on Thursday . The company traded as high as C$75.88 and last traded at C$75.71, with a volume of 659589 shares changing hands. The stock had previously closed at C$73.52.

Separately, BMO Capital Markets set a C$61.00 target price on Magna International and gave the company a “market perform” rating in a report on Thursday, January 18th.

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Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported C$1.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.97 by C$0.02. Magna International had a return on equity of 19.24% and a net margin of 5.28%. The company had revenue of C$13.20 billion during the quarter, compared to analyst estimates of C$12.50 billion.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were issued a dividend of $0.406 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.62 annualized dividend and a dividend yield of 2.17%.

In other news, insider Vincent Joseph Galifi sold 101,656 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of C$73.84, for a total transaction of C$7,506,279.04. Also, Director Donald James Walker sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of C$74.17, for a total value of C$3,708,500.00. Insiders have sold 262,434 shares of company stock valued at $19,020,862 in the last three months.

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Magna International Company Profile

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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