Arcadia Investment Management Corp MI Lowers Stake in BorgWarner Inc. (BWA)
Arcadia Investment Management Corp MI reduced its stake in BorgWarner Inc. (NYSE:BWA) by 34.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,930 shares of the auto parts company’s stock after selling 20,715 shares during the period. Arcadia Investment Management Corp MI’s holdings in BorgWarner were worth $1,691,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of BorgWarner by 3,228.4% in the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock valued at $547,056,000 after buying an additional 12,697,279 shares in the last quarter. Pioneer Investment Management Inc. increased its position in BorgWarner by 56.7% in the first quarter. Pioneer Investment Management Inc. now owns 3,288,289 shares of the auto parts company’s stock valued at $137,417,000 after buying an additional 1,190,369 shares during the last quarter. Vanguard Group Inc. increased its position in BorgWarner by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock valued at $842,583,000 after buying an additional 616,244 shares during the last quarter. Strs Ohio increased its position in BorgWarner by 3,368.8% in the second quarter. Strs Ohio now owns 548,001 shares of the auto parts company’s stock valued at $23,213,000 after buying an additional 532,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in BorgWarner by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,565,948 shares of the auto parts company’s stock valued at $107,231,000 after buying an additional 496,065 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.
Shares of BorgWarner Inc. (BWA) opened at 45.43 on Tuesday. The company has a market capitalization of $9.59 billion, a P/E ratio of 50.65 and a beta of 1.73. The stock’s 50 day moving average is $45.05 and its 200 day moving average is $42.35. BorgWarner Inc. has a 12 month low of $33.09 and a 12 month high of $48.03.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that BorgWarner Inc. will post $3.70 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is presently 62.92%.
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Several research firms have weighed in on BWA. Barclays PLC set a $46.00 price target on shares of BorgWarner and gave the stock a “hold” rating in a research report on Sunday, August 6th. Deutsche Bank AG increased their price target on shares of BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. BidaskClub downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $55.00 price target (up from $50.00) on shares of BorgWarner in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.67.
In related news, Director Dennis C. Cuneo sold 1,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total transaction of $44,060.00. Following the sale, the director now directly owns 13,398 shares of the company’s stock, valued at $590,315.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.
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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