Taylor Asset Management Inc adds Magna International (USA) (MGA) to its portfolio

Magna International (USA) (MGA) : Taylor Asset Management Inc added new position in Magna International (USA) during the most recent quarter end. The investment management firm now holds 734,300 shares of Magna International (USA) which is valued at $29.4 Million , the company said in a statement filed on May 11, 2016 with the SEC.Magna International (USA) makes up approximately 7.55% of Taylor Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Coconut Grove Bank sold out all of its stake in MGA during the most recent quarter. The investment firm sold 689 shares of MGA which is valued $27,560. Wetherby Asset Management Inc added MGA to its portfolio by purchasing 5,699 company shares during the most recent quarter which is valued at $227,960. Magna International (USA) makes up approx 0.05% of Wetherby Asset Management Inc’s portfolio.Johnson Financial Group boosted its stake in MGA in the latest quarter, The investment management firm added 1,732 additional shares and now holds a total of 14,030 shares of Magna International (USA) which is valued at $561,200. Magna International (USA) makes up approx 0.11% of Johnson Financial Group’s portfolio.Teachers Advisors Inc reduced its stake in MGA by selling 5,837 shares or 2.32% in the most recent quarter. The Hedge Fund company now holds 246,033 shares of MGA which is valued at $10.1 Million. Magna International (USA) makes up approx 0.02% of Teachers Advisors Inc’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 $1.1 Million. Magna International (USA) makes up approx 0.11% of Northeast Investment Management’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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