Candriam Luxembourg S.C.A. cut its stake in BorgWarner Inc. (NYSE:BWA) by 23.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 103,209 shares of the auto parts company’s stock after selling 32,316 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in BorgWarner were worth $4,477,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in BorgWarner by 262.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,074 shares of the auto parts company’s stock valued at $223,000 after acquiring an additional 4,396 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in BorgWarner by 12.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 374,637 shares of the auto parts company’s stock valued at $13,742,000 after acquiring an additional 41,055 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in BorgWarner by 34.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 45,089 shares of the auto parts company’s stock valued at $1,654,000 after acquiring an additional 11,606 shares in the last quarter. Usca Ria LLC acquired a new position in BorgWarner in the 3rd quarter valued at $31,000. Finally, Andra AP fonden raised its holdings in BorgWarner by 3.1% in the 3rd quarter. Andra AP fonden now owns 121,600 shares of the auto parts company’s stock valued at $4,460,000 after acquiring an additional 3,600 shares in the last quarter. 91.38% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have weighed in on BWA. Credit Suisse Group cut BorgWarner from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $41.00 in a report on Monday, January 27th. TheStreet lowered BorgWarner from a “b-” rating to a “c+” rating in a research note on Monday, February 10th. Oppenheimer set a $47.00 price target on BorgWarner and gave the company a “buy” rating in a research note on Friday, November 1st. ValuEngine upgraded BorgWarner from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Barclays reiterated a “buy” rating and issued a $46.00 price target on shares of BorgWarner in a research note on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. BorgWarner currently has an average rating of “Hold” and an average price target of $44.71.
Shares of BWA opened at $34.15 on Friday. BorgWarner Inc. has a 52-week low of $30.71 and a 52-week high of $46.60. The business’s fifty day moving average is $39.10 and its 200-day moving average is $38.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.58. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 1.13 and a beta of 1.91.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, February 13th. The auto parts company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.14. BorgWarner had a return on equity of 19.05% and a net margin of 7.34%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the company posted $1.21 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts forecast that BorgWarner Inc. will post 4.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. BorgWarner’s dividend payout ratio is currently 16.46%.
BorgWarner announced that its Board of Directors has authorized a share repurchase program on Tuesday, January 28th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 14.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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