Candriam Luxembourg S.C.A. Has $1,484,000 Position in BorgWarner Inc. (BWA)
Candriam Luxembourg S.C.A. reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 37.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,256 shares of the company’s stock after selling 30,220 shares during the period. Candriam Luxembourg S.C.A.’s holdings in BorgWarner were worth $1,484,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strs Ohio boosted its position in shares of BorgWarner by 100.2% in the second quarter. Strs Ohio now owns 17,670 shares of the company’s stock worth $521,000 after buying an additional 8,844 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in BorgWarner by 6.5% in the second quarter. Douglas Lane & Associates LLC now owns 1,518,337 shares of the company’s stock worth $44,821,000 after buying an additional 93,270 shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in BorgWarner during the second quarter worth approximately $130,000. Bank of Montreal Can bought a new stake in BorgWarner during the second quarter worth approximately $2,261,000. Finally, Hermes Investment Management Ltd. boosted its stake in BorgWarner by 22.0% in the second quarter. Hermes Investment Management Ltd. now owns 448,260 shares of the company’s stock worth $13,233,000 after buying an additional 80,776 shares in the last quarter. Institutional investors and hedge funds own 88.29% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) traded down 0.40% during trading on Tuesday, reaching $35.05. The company had a trading volume of 2,239,867 shares. The company has a market capitalization of $7.51 billion, a P/E ratio of 12.68 and a beta of 1.93. BorgWarner Inc. has a 12 month low of $27.52 and a 12 month high of $48.64. The stock has a 50 day moving average of $34.64 and a 200-day moving average of $34.15.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.33 billion. BorgWarner had a return on equity of 18.50% and a net margin of 7.10%. BorgWarner’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. Equities research analysts expect that BorgWarner Inc. will post $3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, August 30th. BorgWarner’s payout ratio is 18.77%.
A number of analysts recently commented on BWA shares. Bank of America Corp. cut BorgWarner from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Robert W. Baird reiterated a “buy” rating on shares of BorgWarner in a research report on Tuesday, June 28th. Zacks Investment Research cut BorgWarner from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Buckingham Research started coverage on BorgWarner in a research report on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 price objective for the company. Finally, Seaport Global Securities started coverage on BorgWarner in a research report on Tuesday, August 9th. They set a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $42.71.
In related news, VP Brady D. Ericson sold 16,240 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $33.77, for a total transaction of $548,424.80. Following the transaction, the vice president now directly owns 70,156 shares of the company’s stock, valued at $2,369,168.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brady D. Ericson sold 17,132 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $33.69, for a total value of $577,177.08. Following the transaction, the vice president now directly owns 25,502 shares in the company, valued at $859,162.38. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
BorgWarner Company Profile
BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.
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