Oakmont Corp buys $37.2 Million stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Oakmont Corp scooped up 254,750 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 12, 2016. The investment management firm now holds a total of 928,950 shares of Magna International (USA) which is valued at $37.2 Million.Magna International (USA) makes up approximately 6.27% of Oakmont Corp’s portfolio.

Other Hedge Funds, Including , Raymond James Associates reduced its stake in MGA by selling 51,117 shares or 65.34% in the most recent quarter. The Hedge Fund company now holds 27,119 shares of MGA which is valued at $1.1 Million.Manufacturers Life Insurance Company The boosted its stake in MGA in the latest quarter, The investment management firm added 530,460 additional shares and now holds a total of 3,869,126 shares of Magna International (USA) which is valued at $154.8 Million. Magna International (USA) makes up approx 0.24% of Manufacturers Life Insurance Company The’s portfolio. Emerson Investment Management added MGA to its portfolio by purchasing 81,558 company shares during the most recent quarter which is valued at $3.3 Million. Magna International (USA) makes up approx 0.63% of Emerson Investment Management’s portfolio.Diversified Trust Co reduced its stake in MGA by selling 925 shares or 1.27% in the most recent quarter. The Hedge Fund company now holds 71,850 shares of MGA which is valued at $2.9 Million. Magna International (USA) makes up approx 0.42% of Diversified Trust Co’s portfolio.

Magna International (USA) opened for trading at $39.16 and hit $39.77 on the upside on Friday, eventually ending the session at $39.59, with a gain of 1.49% or 0.58 points. The heightened volatility saw the trading volume jump to 10,55,167 shares. Company has a market cap of $15,705 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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