Black Creek Investment Management buys $53,962,755 stake in BorgWarner (BWA)

BorgWarner (BWA) : Black Creek Investment Management scooped up 1,183,559 additional shares in BorgWarner during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,596,059 shares of BorgWarner which is valued at $53,962,755.BorgWarner makes up approximately 4.67% of Black Creek Investment Management’s portfolio.

Other Hedge Funds, Including , Bronfman E.l. Rothschild boosted its stake in BWA in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 233 shares of BorgWarner which is valued at $7,878.Broadview Advisors reduced its stake in BWA by selling 5,500 shares or 26.07% in the most recent quarter. The Hedge Fund company now holds 15,600 shares of BWA which is valued at $527,436. BorgWarner makes up approx 0.07% of Broadview Advisors’s portfolio.Turtle Creek Asset Management boosted its stake in BWA in the latest quarter, The investment management firm added 472,600 additional shares and now holds a total of 993,500 shares of BorgWarner which is valued at $33,590,235. BorgWarner makes up approx 12.61% of Turtle Creek Asset Management’s portfolio. Cleararc Capital Inc sold out all of its stake in BWA during the most recent quarter. The investment firm sold 5,333 shares of BWA which is valued $180,309.Advisors Asset Management reduced its stake in BWA by selling 2,189 shares or 24.51% in the most recent quarter. The Hedge Fund company now holds 6,743 shares of BWA which is valued at $229,262.

BorgWarner opened for trading at $33.67 and hit $34.19 on the upside on Monday, eventually ending the session at $34, with a gain of 1.04% or 0.35 points. The heightened volatility saw the trading volume jump to 16,18,888 shares. Company has a market cap of $7,285 M.

On the company’s financial health, BorgWarner reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.82. The company had revenue of $2329.20 million for the quarter, compared to analysts expectations of $2322.97 million. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Many Wall Street Analysts have commented on BorgWarner. BorgWarner was Initiated by Seaport Global Securities to “Neutral” on Aug 9, 2016. BorgWarner was Downgraded by BofA/Merrill to ” Neutral” on Jun 21, 2016.

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’ develops and manufactures products in gasoline and diesel engines and alternative powertrains. The Drivetrain segment develops and manufactures products for automatic transmissions and all-wheel drive (AWD) vehicles. The Company manufactures and sells the product across the world to equipment manufacturers (OEMs) of light vehicles. The Company sells the products to other OEMs of commercial vehicles and off-highway vehicles (agricultural and construction machinery and marine applications). It also manufactures and sells its products to Tier One vehicle systems suppliers and into the aftermarket for light commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in the Americas Europe and Asia and is an equipment supplier to automotive OEM.

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