Rhumbline Advisers Cuts Stake in BorgWarner Inc. (BWA)

Rhumbline Advisers Cuts Stake in BorgWarner Inc. (BWA)

Rhumbline Advisers lowered its position in shares of BorgWarner Inc. (NYSE:BWA) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,728 shares of the auto parts company’s stock after selling 38,028 shares during the period. Rhumbline Advisers’ holdings in BorgWarner were worth $13,702,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS raised its stake in shares of BorgWarner by 2.5% in the first quarter. Kornitzer Capital Management Inc. KS now owns 86,910 shares of the auto parts company’s stock worth $3,338,000 after purchasing an additional 2,155 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of BorgWarner by 4.3% in the first quarter. Eagle Asset Management Inc. now owns 42,711 shares of the auto parts company’s stock worth $1,640,000 after purchasing an additional 1,743 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of BorgWarner by 0.3% in the first quarter. Diamond Hill Capital Management Inc. now owns 9,941,932 shares of the auto parts company’s stock worth $381,870,000 after purchasing an additional 33,410 shares during the last quarter. Starr International Co. Inc. purchased a new position in shares of BorgWarner in the first quarter worth about $144,000. Finally, Janus Henderson Group PLC raised its stake in shares of BorgWarner by 104.8% in the first quarter. Janus Henderson Group PLC now owns 103,925 shares of the auto parts company’s stock worth $3,992,000 after purchasing an additional 53,182 shares during the last quarter. Hedge funds and other institutional investors own 91.50% of the company’s stock.

In other BorgWarner news, VP Joel Wiegert sold 6,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $38.74, for a total transaction of $232,440.00. Following the transaction, the vice president now owns 27,420 shares of the company’s stock, valued at $1,062,250.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tonit M. Calaway sold 12,000 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $41.93, for a total value of $503,160.00. Following the transaction, the executive vice president now directly owns 28,066 shares in the company, valued at approximately $1,176,807.38. The disclosure for this sale can be found here. Insiders have sold 29,784 shares of company stock worth $1,230,456 in the last three months. 0.75% of the stock is currently owned by corporate insiders.

BWA has been the subject of several research analyst reports. Bank of America restated a “neutral” rating and issued a $46.00 price objective (up from $42.00) on shares of BorgWarner in a research note on Tuesday, April 23rd. ValuEngine cut BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Friday, February 8th. Morgan Stanley set a $49.00 price target on BorgWarner and gave the company a “buy” rating in a research report on Friday, February 15th. Robert W. Baird upgraded BorgWarner to a “top pick” rating in a research report on Friday, February 15th. Finally, Zacks Investment Research cut BorgWarner from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. BorgWarner has an average rating of “Buy” and a consensus price target of $48.83.

Shares of NYSE:BWA opened at $36.54 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $7.67 billion, a PE ratio of 8.16, a PEG ratio of 1.12 and a beta of 1.74. BorgWarner Inc. has a 1 year low of $32.46 and a 1 year high of $53.28.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, April 25th. The auto parts company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.06. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.47 billion. BorgWarner had a return on equity of 21.64% and a net margin of 8.39%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. Research analysts anticipate that BorgWarner Inc. will post 4.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Friday, May 31st. BorgWarner’s dividend payout ratio (DPR) is currently 15.18%.

BorgWarner Profile

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.

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