Mizuho Asset Management Co. Ltd. boosted its stake in BorgWarner Inc. (NYSE:BWA) by 106.2% during the second quarter, Holdings Channel reports. The fund owned 3,567 shares of the company’s stock after buying an additional 1,837 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in BorgWarner were worth $105,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. River & Mercantile Asset Management LLP raised its stake in shares of BorgWarner by 166.7% in the second quarter. River & Mercantile Asset Management LLP now owns 4,000 shares of the company’s stock valued at $118,000 after buying an additional 2,500 shares during the last quarter. Washington Trust Bank raised its stake in shares of BorgWarner by 1.4% in the second quarter. Washington Trust Bank now owns 4,054 shares of the company’s stock valued at $120,000 after buying an additional 54 shares during the last quarter. JFS Wealth Advisors LLC purchased a new stake in shares of BorgWarner during the second quarter valued at $130,000. ING Groep NV purchased a new stake in shares of BorgWarner during the second quarter valued at $227,000. Finally, Societe Generale purchased a new stake in shares of BorgWarner during the second quarter valued at $228,000. 88.29% of the stock is currently owned by institutional investors.
Shares of BorgWarner Inc. (NYSE:BWA) traded up 0.73% during midday trading on Friday, hitting $34.55. The company had a trading volume of 180,139 shares. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 12.50 and a beta of 1.93. The stock’s 50-day moving average price is $34.55 and its 200-day moving average price is $34.22. BorgWarner Inc. has a one year low of $27.52 and a one year high of $48.64.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. BorgWarner had a return on equity of 18.50% and a net margin of 7.10%. The firm earned $2.33 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the business posted $0.75 EPS. The business’s revenue was up 14.6% compared to the same quarter last year. Analysts predict that BorgWarner Inc. will post $3.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.52%. BorgWarner’s payout ratio is currently 18.77%.
Several brokerages have recently weighed in on BWA. Zacks Investment Research lowered BorgWarner from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. TheStreet downgraded BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, June 2nd. Robert W. Baird restated an “outperform” rating and set a $46.00 target price on shares of BorgWarner in a research report on Wednesday, September 7th. Buckingham Research began coverage on BorgWarner in a research report on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 target price for the company. Finally, Bank of America Corp. downgraded BorgWarner from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $42.71.
In other BorgWarner news, VP Brady D. Ericson sold 17,132 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $33.69, for a total transaction of $577,177.08. Following the completion of the sale, the vice president now directly owns 25,502 shares in the company, valued at approximately $859,162.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brady D. Ericson sold 16,240 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $33.77, for a total value of $548,424.80. Following the sale, the vice president now owns 70,156 shares of the company’s stock, valued at $2,369,168.12. The disclosure for this sale can be found here. Company 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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