Acadian Asset Management LLC Sells 388,012 Shares of BorgWarner Inc. (NYSE:BWA)

Acadian Asset Management LLC decreased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 95.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,384 shares of the auto parts company’s stock after selling 388,012 shares during the quarter. Acadian Asset Management LLC’s holdings in BorgWarner were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. MainStreet Investment Advisors LLC increased its holdings in shares of BorgWarner by 7.8% in the second quarter. MainStreet Investment Advisors LLC now owns 9,471 shares of the auto parts company’s stock worth $305,000 after purchasing an additional 682 shares during the period. Great Lakes Advisors LLC increased its holdings in shares of BorgWarner by 0.3% in the second quarter. Great Lakes Advisors LLC now owns 869,304 shares of the auto parts company’s stock worth $28,026,000 after purchasing an additional 2,841 shares during the period. Savant Capital LLC increased its holdings in shares of BorgWarner by 210.3% in the second quarter. Savant Capital LLC now owns 28,561 shares of the auto parts company’s stock worth $921,000 after purchasing an additional 19,357 shares during the period. Denver PWM LLC bought a new position in shares of BorgWarner in the second quarter worth $55,000. Finally, National Bank of Canada FI increased its holdings in shares of BorgWarner by 21.1% in the second quarter. National Bank of Canada FI now owns 61,907 shares of the auto parts company’s stock worth $1,949,000 after purchasing an additional 10,779 shares during the period. Institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Performance

NYSE BWA opened at $32.90 on Wednesday. The company has a 50-day simple moving average of $32.81 and a two-hundred day simple moving average of $33.56. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $42.27. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.87 and a beta of 1.20.

BorgWarner (NYSE:BWA) last posted 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 company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.69 billion. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. BorgWarner’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.35 earnings per share. On average, equities analysts forecast that BorgWarner Inc. will post 4.1 EPS for the current year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.11 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.34%. BorgWarner’s dividend payout ratio is currently 16.67%.

Insider Transactions at BorgWarner

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of BorgWarner in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Citigroup reduced their target price on BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Bank of America reduced their target price on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays increased their target price on BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.07.

BorgWarner 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.