Cubist Systematic Strategies LLC Purchases 15,001 Shares of BorgWarner Inc. (BWA)
Cubist Systematic Strategies LLC raised its position in shares of BorgWarner Inc. (NYSE:BWA) by 95.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,639 shares of the auto parts company’s stock after buying an additional 15,001 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in BorgWarner were worth $1,298,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of BorgWarner by 3,228.4% in the 1st quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock worth $547,056,000 after purchasing an additional 12,697,279 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of BorgWarner by 108.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,496,736 shares of the auto parts company’s stock worth $105,762,000 after purchasing an additional 1,297,584 shares during the last quarter. Black Creek Investment Management Inc. raised its position in shares of BorgWarner by 32.5% in the 2nd quarter. Black Creek Investment Management Inc. now owns 2,664,249 shares of the auto parts company’s stock worth $112,858,000 after purchasing an additional 653,574 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BorgWarner by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock worth $842,583,000 after purchasing an additional 616,244 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of BorgWarner by 16.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,854,638 shares of the auto parts company’s stock worth $163,282,000 after purchasing an additional 533,701 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.
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Several research firms have recently issued reports on BWA. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $44.00 price target on shares of BorgWarner in a research report on Wednesday, July 12th. BidaskClub lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Tuesday, September 5th. Deutsche Bank AG lowered BorgWarner from a “buy” rating to a “hold” rating and set a $55.00 price target for the company. in a research report on Thursday. Finally, Guggenheim began coverage on BorgWarner in a research report on Wednesday, June 21st. They issued a “neutral” rating and a $45.00 price target for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $44.86.
BorgWarner Inc. (BWA) traded down 1.894% during midday trading on Thursday, hitting $51.025. The company’s stock had a trading volume of 401,666 shares. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 56.884 and a beta of 1.76. The company’s 50-day moving average is $48.58 and its 200 day moving average is $44.18. BorgWarner Inc. has a one year low of $33.09 and a one year high of $52.71.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.89 by $0.07. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. BorgWarner’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. On average, analysts predict that BorgWarner Inc. will post $3.70 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.08%. The ex-dividend date was Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is 62.92%.
In related news, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the sale, the executive vice president now directly owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $45.38, for a total value of $501,539.76. Following the sale, the insider now directly owns 23,418 shares in the company, valued at $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
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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