BlueMountain Capital Management LLC Buys Shares of 28,080 BorgWarner Inc. (BWA)
BlueMountain Capital Management LLC bought a new position in BorgWarner Inc. (NYSE:BWA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 28,080 shares of the auto parts company’s stock, valued at approximately $1,189,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of BorgWarner by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock valued at $842,583,000 after acquiring an additional 616,244 shares during the last quarter. BlackRock Inc. boosted its position in shares of BorgWarner by 3,228.4% during the 1st quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock valued at $547,056,000 after acquiring an additional 12,697,279 shares during the last quarter. Boston Partners boosted its position in shares of BorgWarner by 2.2% during the 2nd quarter. Boston Partners now owns 10,810,607 shares of the auto parts company’s stock valued at $457,937,000 after acquiring an additional 229,447 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of BorgWarner by 2.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 8,486,663 shares of the auto parts company’s stock valued at $359,495,000 after acquiring an additional 176,245 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of BorgWarner by 1.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,408,179 shares of the auto parts company’s stock valued at $226,008,000 after acquiring an additional 76,928 shares during the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.
A number of analysts have recently issued reports on BWA shares. Zacks Investment Research downgraded BorgWarner from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Jefferies Group LLC reiterated a “buy” rating and set a $56.00 price target on shares of BorgWarner in a research report on Tuesday, August 29th. Bank of America Corporation reiterated an “underperform” rating and set a $27.00 price target (down previously from $30.00) on shares of BorgWarner in a research report on Friday, June 16th. BMO Capital Markets reiterated an “outperform” rating and set a $55.00 price target (up previously from $50.00) on shares of BorgWarner in a research report on Friday, July 28th. Finally, ValuEngine downgraded BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. BorgWarner presently has an average rating of “Hold” and a consensus target price of $44.00.
In related news, EVP Tonit M. Calaway sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the completion of the transaction, the executive vice president now directly owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brady D. Ericson sold 11,052 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, the insider now directly owns 23,418 shares of the company’s stock, valued at $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
BorgWarner Inc. (NYSE BWA) opened at 49.09 on Wednesday. BorgWarner Inc. has a one year low of $33.09 and a one year high of $49.25. The stock has a market capitalization of $10.36 billion, a PE ratio of 54.73 and a beta of 1.73. The company’s 50 day moving average price is $46.01 and its 200-day moving average price is $43.15.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Analysts expect that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, August 30th. BorgWarner’s payout ratio is presently 62.92%.
BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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