James Investment Research Inc buys $58,053,122 stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : James Investment Research Inc scooped up 84,914 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 15, 2016. The investment management firm now holds a total of 1,523,704 shares of Magna International (USA) which is valued at $58,053,122.Magna International (USA) makes up approximately 1.43% of James Investment Research Inc’s portfolio.

Other Hedge Funds, Including , Gradient Investments sold out all of its stake in MGA during the most recent quarter. The investment firm sold 751 shares of MGA which is valued $28,613.Nn Investment Partners Holdings N.v. boosted its stake in MGA in the latest quarter, The investment management firm added 109,472 additional shares and now holds a total of 129,834 shares of Magna International (USA) which is valued at $4,805,156. Magna International (USA) makes up approx 0.04% of Nn Investment Partners Holdings N.v.’s portfolio.Augustine Asset Management Inc boosted its stake in MGA in the latest quarter, The investment management firm added 1,875 additional shares and now holds a total of 87,700 shares of Magna International (USA) which is valued at $3,245,777. Magna International (USA) makes up approx 2.52% of Augustine Asset Management Inc’s portfolio.

Magna International (USA) opened for trading at $37.27 and hit $38.25 on the upside on Monday, eventually ending the session at $38.1, with a gain of 1.65% or 0.62 points. The heightened volatility saw the trading volume jump to 11,59,302 shares. Company has a market cap of $15,114 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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