Magna International (MG) Hits New 52-Week Low at $77.36

Magna International Inc. (TSE:MG) (NYSE:MGA) hit a new 52-week low on Thursday . The stock traded as low as C$77.36 and last traded at C$77.45, with a volume of 648059 shares trading hands. The stock had previously closed at C$80.61.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings results on Thursday, May 10th. The company reported C$2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$2.10 by C$0.23. The company had revenue of C$13.64 billion for the quarter, compared to the consensus estimate of C$12.69 billion. Magna International had a net margin of 5.28% and a return on equity of 19.24%.

The business also recently declared a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Friday, May 25th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, May 24th.

In related news, insider Francis Seguin sold 75,886 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of C$84.58, for a total value of C$6,418,437.88. Also, insider Marc Joseph Neeb sold 21,804 shares of the firm’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of C$65.27, for a total transaction of C$1,423,147.08. Insiders sold a total of 209,506 shares of company stock worth $16,481,973 in the last ninety days.

About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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