Hillsdale Investment Management buys $9,521,200 stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Hillsdale Investment Management scooped up 226,110 additional shares in Magna International (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 238,030 shares of Magna International (USA) which is valued at $9,521,200.Magna International (USA) makes up approximately 3.09% of Hillsdale Investment Management’s portfolio.

Other Hedge Funds, Including , Spot Trading L.l.c added MGA to its portfolio by purchasing 2,243 company shares during the most recent quarter which is valued at $89,720. Magna International (USA) makes up approx 0.01% of Spot Trading L.l.c’s portfolio.Alpine Woods Capital Investors reduced its stake in MGA by selling 123,500 shares or 85.94% in the most recent quarter. The Hedge Fund company now holds 20,200 shares of MGA which is valued at $808,000. Magna International (USA) makes up approx 0.05% of Alpine Woods Capital Investors’s portfolio.Northeast Investment Management reduced its stake in MGA by selling 72,525 shares or 72.92% in the most recent quarter. The Hedge Fund company now holds 26,937 shares of MGA which is valued at $1,103,340. Magna International (USA) makes up approx 0.11% of Northeast Investment Management’s portfolio.Td Asset Management Inc reduced its stake in MGA by selling 502,196 shares or 5.09% in the most recent quarter. The Hedge Fund company now holds 9,361,393 shares of MGA which is valued at $383,442,657. Magna International (USA) makes up approx 0.72% of Td Asset Management Inc’s portfolio.Toron Capital Markets reduced its stake in MGA by selling 88,130 shares or 5.13% in the most recent quarter. The Hedge Fund company now holds 1,628,854 shares of MGA which is valued at $66,717,860. Magna International (USA) makes up approx 3.98% of Toron Capital Markets’s portfolio.

Magna International (USA) opened for trading at $40.07 and hit $40.53 on the upside on Monday, eventually ending the session at $40.27, with a gain of 0.68% or 0.27 points. The heightened volatility saw the trading volume jump to 12,21,956 shares. Company has a market cap of $15,975 M.

On the company’s financial health, Magna International (USA) reported $1.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $1.19. The company had revenue of $8900.00 million for the quarter, compared to analysts expectations of $8644.99 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Investors should note that on May 5, 2016, Magna International (USA) announced a cash dividend of $0.2500. The company’s management has announced May 25, 2016 as the ex-dividend date and fixed the record date on May 27, 2016. The payable date has been fixed on Jun 10, 2016.

Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development engineering and sales centers in approximately 28 countries. Its product capabilities include producing body chassis interior exterior seating powertrain electronic vision closure and roof systems and modules as well as vehicle engineering and contract manufacturing. Its customers include General Motors Fiat-Chrysler Ford BMW Daimler and Volkswagen. Its offers programs which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America Europe and Asia.

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