Black Creek Investment Management buys $61,840,194 stake in BorgWarner (BWA)

BorgWarner (BWA) : Black Creek Investment Management scooped up 211,077 additional shares in BorgWarner during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,807,136 shares of BorgWarner which is valued at $61,840,194.BorgWarner makes up approximately 5.09% of Black Creek Investment Management’s portfolio.

Other Hedge Funds, Including , Freestone Capital Holdings boosted its stake in BWA in the latest quarter, The investment management firm added 509 additional shares and now holds a total of 13,135 shares of BorgWarner which is valued at $449,480. BorgWarner makes up approx 0.04% of Freestone Capital Holdings’s portfolio.Calvert Investment Management boosted its stake in BWA in the latest quarter, The investment management firm added 1,020 additional shares and now holds a total of 16,002 shares of BorgWarner which is valued at $563,590. BorgWarner makes up approx 0.02% of Calvert Investment Management’s portfolio.Bbva Compass Bancshares Inc boosted its stake in BWA in the latest quarter, The investment management firm added 36 additional shares and now holds a total of 111,129 shares of BorgWarner which is valued at $3,913,963. BorgWarner makes up approx 0.29% of Bbva Compass Bancshares Inc’s portfolio.State Of Wisconsin Investment Board reduced its stake in BWA by selling 5,600 shares or 3.87% in the most recent quarter. The Hedge Fund company now holds 139,070 shares of BWA which is valued at $4,904,999. BorgWarner makes up approx 0.02% of State Of Wisconsin Investment Board’s portfolio.

BorgWarner opened for trading at $35.41 and hit $35.96 on the upside on Monday, eventually ending the session at $35.68, with a gain of 0.85% or 0.3 points. The heightened volatility saw the trading volume jump to 24,55,343 shares. Company has a market cap of $7,599 M.

On the company’s financial health, BorgWarner reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.77. The company had revenue of $2214.20 million for the quarter, compared to analysts expectations of $2184.67 million. The company’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.

Investors should note that on Nov 9, 2016, BorgWarner announced a cash dividend of $0.1400. The company’s management has announced Nov 29, 2016 as the ex-dividend date and fixed the record date on Dec 1, 2016. The payable date has been fixed on Dec 15, 2016.

Many Wall Street Analysts have commented on BorgWarner. BorgWarner was Downgraded by BofA/Merrill to ” Underperform” on Nov 9, 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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