Beutel Goodman Co Ltd. Lowers stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Beutel Goodman Co Ltd. reduced its stake in Magna International (USA) by 0.79% during the most recent quarter end. The investment management company now holds a total of 12,693,698 shares of Magna International (USA) which is valued at $544,051,896 after selling 101,035 shares in Magna International (USA) , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Magna International (USA) makes up approximately 5.22% of Beutel Goodman Co Ltd.’s portfolio.

Other Hedge Funds, Including , Nexus Investment Management boosted its stake in MGA in the latest quarter, The investment management firm added 880 additional shares and now holds a total of 26,425 shares of Magna International (USA) which is valued at $1,132,576. Magna International (USA) makes up approx 0.21% of Nexus Investment Management’s portfolio. Beacon Capital Management sold out all of its stake in MGA during the most recent quarter. The investment firm sold 200 shares of MGA which is valued $8,500. Founders Financial Securities added MGA to its portfolio by purchasing 12,179 company shares during the most recent quarter which is valued at $514,319. Magna International (USA) makes up approx 0.22% of Founders Financial Securities’s portfolio.Independent Portfolio Consultants reduced its stake in MGA by selling 717 shares or 25.14% in the most recent quarter. The Hedge Fund company now holds 2,135 shares of MGA which is valued at $93,406. Magna International (USA) makes up approx 0.03% of Independent Portfolio Consultants’s portfolio.Cardinal Capital Management reduced its stake in MGA by selling 1,397 shares or 87.31% in the most recent quarter. The Hedge Fund company now holds 203 shares of MGA which is valued at $8,881.

Magna International (USA) opened for trading at $42.4 and hit $42.95 on the upside on Tuesday, eventually ending the session at $42.86, with a gain of 0.85% or 0.36 points. The heightened volatility saw the trading volume jump to 21,51,107 shares. Company has a market cap of $17,002 M.

On the company’s financial health, Magna International (USA) reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $1.34. The company had revenue of $9443.00 million for the quarter, compared to analysts expectations of $9204.19 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.

Many Wall Street Analysts have commented on Magna International (USA). Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $52 .

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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