BlackRock Inc. on Monday reported a 5.4% stake in Ford Motor Co., less than two weeks after the No. 2 U.S. auto maker reported a sharp drop in fourth-quarter profit, reported The WSJ.
BlackRock, the world’s largest asset manager, said a year ago that it had a stake of 5.2%, which represents the total amount owned by the firm’s different funds.
The move comes as Ford has told investors it will have a major rebound in 2015 from a struggle in 2014. Ford reported last month a steep drop in profits as a result of removing Venezuela from its consolidated earnings, but also had a 4.5% decline in revenue related to launching its F-150 pickup in the U.S.
BlackRock, the world’s largest asset manager, didn’t disclose plans for the stake.
Ford has forecast that pretax profits, the operating measure that Ford uses with Wall Street, will be up as much as 50% in 2015 and that it will growth sales and market share on a global basis.