Meeder Asset Management Inc. decreased its stake in shares of BorgWarner Inc. (NYSE:BWA) by 20.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,277 shares of the auto parts company’s stock after selling 3,212 shares during the period. Meeder Asset Management Inc.’s holdings in BorgWarner were worth $525,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of BorgWarner by 14.5% during the 2nd quarter. BlackRock Inc. now owns 19,874,263 shares of the auto parts company’s stock valued at $857,773,000 after acquiring an additional 2,517,481 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of BorgWarner by 3.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 8,380,386 shares of the auto parts company’s stock valued at $361,697,000 after acquiring an additional 241,769 shares during the last quarter. LSV Asset Management increased its holdings in shares of BorgWarner by 8.4% during the 2nd quarter. LSV Asset Management now owns 4,426,453 shares of the auto parts company’s stock valued at $191,045,000 after acquiring an additional 341,578 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of BorgWarner by 5.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,061,964 shares of the auto parts company’s stock valued at $173,771,000 after acquiring an additional 219,432 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of BorgWarner by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,508 shares of the auto parts company’s stock valued at $109,489,000 after acquiring an additional 73,548 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Thomas T. Stallkamp sold 7,692 shares of BorgWarner stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $39.33, for a total transaction of $302,526.36. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $117,990. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joel Wiegert sold 4,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $39.57, for a total value of $158,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,472 shares of company stock worth $1,126,972 in the last three months. 0.74% of the stock is owned by insiders.
BWA opened at $38.79 on Friday. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 1.37 and a beta of 1.81. The company has a current ratio of 1.66, a quick ratio of 1.28 and a debt-to-equity ratio of 0.50. BorgWarner Inc. has a 12-month low of $35.71 and a 12-month high of $58.22.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, October 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.45 billion. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. Research analysts expect that BorgWarner Inc. will post 4.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, November 30th. BorgWarner’s payout ratio is presently 17.48%.
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BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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