Taylor Asset Management Inc buys $30,830,382 stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Taylor Asset Management Inc scooped up 47,800 additional shares in Magna International (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 782,100 shares of Magna International (USA) which is valued at $30,830,382.Magna International (USA) makes up approximately 8.57% of Taylor Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Stoneridge Investment Partners sold out all of its stake in MGA during the most recent quarter. The investment firm sold 55,550 shares of MGA which is valued $2,189,781.Barry Investment Advisors reduced its stake in MGA by selling 242 shares or 1.52% in the most recent quarter. The Hedge Fund company now holds 15,630 shares of MGA which is valued at $595,503. Magna International (USA) makes up approx 0.23% of Barry Investment Advisors’s portfolio.Beutel Goodman Co Ltd. boosted its stake in MGA in the latest quarter, The investment management firm added 455,745 additional shares and now holds a total of 12,794,733 shares of Magna International (USA) which is valued at $447,943,602. Magna International (USA) makes up approx 4.52% of Beutel Goodman Co Ltd.’s portfolio. Bnp Paribas Arbitrage Sa sold out all of its stake in MGA during the most recent quarter. The investment firm sold 7,381 shares of MGA which is valued $258,409.Nexus Investment Management boosted its stake in MGA in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 25,545 shares of Magna International (USA) which is valued at $894,330. Magna International (USA) makes up approx 0.17% of Nexus Investment Management’s portfolio.

Magna International (USA) opened for trading at $37.94 and hit $38.78 on the upside on Friday, eventually ending the session at $38.57, with a gain of 1.90% or 0.72 points. The heightened volatility saw the trading volume jump to 10,67,735 shares. Company has a market cap of $15,301 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.

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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