BorgWarner (BWA) : Diamond Hill Capital Management Inc scooped up 867,689 additional shares in BorgWarner during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 9,583,340 shares of BorgWarner which is valued at $324,012,725.BorgWarner makes up approximately 1.94% of Diamond Hill Capital Management Inc’s portfolio.
Other Hedge Funds, Including , Blackrock Investment Management boosted its stake in BWA in the latest quarter, The investment management firm added 15,957 additional shares and now holds a total of 469,869 shares of BorgWarner which is valued at $15,886,271. BorgWarner makes up approx 0.02% of Blackrock Investment Management’s portfolio.Boston Private Wealth reduced its stake in BWA by selling 4,612 shares or 39.58% in the most recent quarter. The Hedge Fund company now holds 7,040 shares of BWA which is valued at $230,278. BorgWarner makes up approx 0.01% of Boston Private Wealth’s portfolio.Bremer Trust National Association reduced its stake in BWA by selling 499 shares or 6.69% in the most recent quarter. The Hedge Fund company now holds 6,963 shares of BWA which is valued at $229,918. BorgWarner makes up approx 0.06% of Bremer Trust National Association’s portfolio.
BorgWarner opened for trading at $33.76 and hit $34.3001 on the upside on Friday, eventually ending the session at $34.21, with a gain of 0.59% or 0.2 points. The heightened volatility saw the trading volume jump to 20,85,219 shares. Company has a market cap of $7,330 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.
Investors should note that on Jul 26, 2016, BorgWarner announced a cash dividend of $0.1300. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 15, 2016.
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.