|Bid||0.00 x 20800|
|Ask||0.00 x 124400|
|Day's Range||9.47 - 9.83|
|52 Week Range||5.73 - 10.52|
|Beta (5Y Monthly)||1.42|
|PE Ratio (TTM)||10.53|
|Earnings Date||Mar 10, 2020|
|Forward Dividend & Yield||0.55 (5.65%)|
|Ex-Dividend Date||Apr 25, 2019|
|1y Target Est||15.40|
An Indian antitrust investigation has found that units of Tata Steel, Sweden's SKF and Germany's Schaeffler colluded on the pricing of bearings, a report seen by Reuters shows, opening them up to potential fines. The Competition Commission of India (CCI) began an investigation in 2017 after allegations that five companies colluded on bearings prices from 2009-2014 to pass higher raw material costs onto customers in the auto sector. European Union antitrust regulators fined SKF, Schaeffler and three Japanese auto parts makers $1.3 billion in 2014 for taking part in a bearings cartel from 2004 through 2011.
Schaeffler also owns a hefty stake in tire and car parts giant Continental AG, but those shares have nosedived too. Hence, though Maria-Elisabeth Schaeffler-Thumann and her son Georg remain two of Germany’s richest people, their combined $16 billion wealth as estimated by the Bloomberg Billionaires Index isn’t as eye-catching as it once was. Theirs probably won’t be the last German industrial fortune to suffer a bruising this decade. Like many of Germany’s export champions, Schaeffler is trying to make the leap from a world dominated by highly precise mechanical components (its most famous product is the humble ball-bearing) to one controlled by automated and electric systems.