Quarry LP Acquires New Shares in BorgWarner Inc. (NYSE:BWA)

Quarry LP bought a new position in shares of BorgWarner Inc. (NYSE:BWA) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,988 shares of the auto parts company’s stock, valued at approximately $96,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of BorgWarner by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 27,147,545 shares of the auto parts company’s stock valued at $973,239,000 after buying an additional 331,401 shares during the period. Dimensional Fund Advisors LP grew its stake in BorgWarner by 23.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company’s stock valued at $278,190,000 after acquiring an additional 1,640,503 shares during the period. Earnest Partners LLC increased its holdings in shares of BorgWarner by 20.2% in the second quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company’s stock worth $128,308,000 after acquiring an additional 669,137 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of BorgWarner by 361.1% during the second quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company’s stock worth $79,010,000 after purchasing an additional 1,919,219 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of BorgWarner by 17.1% during the 2nd quarter. Sei Investments Co. now owns 2,217,195 shares of the auto parts company’s stock valued at $71,482,000 after purchasing an additional 324,087 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Tonit M. Calaway sold 10,868 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the sale, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Tonit M. Calaway sold 10,868 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the transaction, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total transaction of $66,112.00. Following the sale, the executive vice president now owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

BorgWarner Stock Down 0.2 %

NYSE:BWA opened at $35.42 on Thursday. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $40.76. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $33.16 and its two-hundred day moving average price is $33.77.

BorgWarner (NYSE:BWA) last issued its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.18. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.69 billion. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 earnings per share. Equities research analysts expect that BorgWarner Inc. will post 4.1 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, September 3rd. BorgWarner’s payout ratio is currently 16.67%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $36.00 target price on shares of BorgWarner in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price objective on shares of BorgWarner from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group increased their target price on BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. The Goldman Sachs Group dropped their price target on BorgWarner from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price objective on BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.20.

BorgWarner Company Profile

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.