Olstein Capital Management L.P. Boosts Stake in BorgWarner Inc. (BWA)
Olstein Capital Management L.P. boosted its stake in BorgWarner Inc. (NYSE:BWA) by 3.4% during the second quarter, Holdings Channel reports. The fund owned 90,000 shares of the auto parts company’s stock after buying an additional 3,000 shares during the period. Olstein Capital Management L.P.’s holdings in BorgWarner were worth $3,812,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of BorgWarner during the first quarter valued at approximately $105,000. Van ECK Associates Corp raised its position in shares of BorgWarner by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock valued at $113,000 after buying an additional 171 shares during the last quarter. CENTRAL TRUST Co raised its position in shares of BorgWarner by 5.3% in the second quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock valued at $114,000 after buying an additional 135 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of BorgWarner by 13.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock valued at $122,000 after buying an additional 354 shares during the last quarter. Finally, Whittier Trust Co. raised its position in shares of BorgWarner by 6.4% in the first quarter. Whittier Trust Co. now owns 3,165 shares of the auto parts company’s stock valued at $132,000 after buying an additional 189 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.
BorgWarner Inc. (NYSE BWA) opened at 45.25 on Wednesday. The firm’s 50-day moving average price is $45.14 and its 200-day moving average price is $42.38. BorgWarner Inc. has a 12 month low of $33.09 and a 12 month high of $48.03. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 50.45 and a beta of 1.73.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the Zacks’ 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%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. Equities research analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.14 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.24%. BorgWarner’s payout ratio is 62.92%.
BWA has been the subject of several research reports. TheStreet upgraded BorgWarner from a “c+” rating to a “b” rating in a research report on Monday, May 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of BorgWarner in a research report on Saturday, April 29th. Deutsche Bank AG lifted their target price on BorgWarner from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Monday, May 22nd. Finally, ValuEngine lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $42.67.
In other BorgWarner news, Director Dennis C. Cuneo sold 1,000 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total value of $44,060.00. Following the transaction, the director now directly owns 13,398 shares in the company, valued at approximately $590,315.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently 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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