Chicago Equity Partners LLC purchased a new position in Dana Incorporated (NYSE:DAN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 33,355 shares of the auto parts company’s stock, valued at approximately $745,000.
Other large investors have also added to or reduced their stakes in the company. American International Group Inc. lifted its stake in shares of Dana by 4.3% in the first quarter. American International Group Inc. now owns 374,437 shares of the auto parts company’s stock worth $7,230,000 after acquiring an additional 15,381 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Dana by 1.3% in the first quarter. Nordea Investment Management AB now owns 80,390 shares of the auto parts company’s stock worth $1,552,000 after acquiring an additional 1,004 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Dana in the first quarter worth about $237,000. Great West Life Assurance Co. Can lifted its stake in shares of Dana by 1.1% in the second quarter. Great West Life Assurance Co. Can now owns 85,680 shares of the auto parts company’s stock worth $1,912,000 after acquiring an additional 942 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Dana by 3.2% in the first quarter. Principal Financial Group Inc. now owns 594,304 shares of the auto parts company’s stock worth $11,476,000 after acquiring an additional 18,158 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.
Several research firms recently commented on DAN. CLSA began coverage on Dana in a research note on Thursday, June 22nd. They issued a “buy” rating and a $27.00 price target on the stock. Barclays PLC cut Dana from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $24.00 in a research note on Wednesday, July 19th. Susquehanna Bancshares Inc cut Dana from a “neutral” rating to a “negative” rating and set a $19.00 price target on the stock. in a research note on Thursday, July 13th. UBS AG reiterated a “neutral” rating and issued a $24.00 price target (up previously from $20.00) on shares of Dana in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded Dana from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Dana currently has a consensus rating of “Hold” and a consensus price target of $23.50.
Shares of Dana Incorporated (NYSE:DAN) opened at 24.23 on Monday. The firm’s 50-day moving average price is $23.58 and its 200 day moving average price is $21.15. Dana Incorporated has a 52 week low of $13.93 and a 52 week high of $25.10. The firm has a market cap of $3.51 billion, a PE ratio of 5.14 and a beta of 1.49.
Dana (NYSE:DAN) last released its earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.17. Dana had a return on equity of 30.79% and a net margin of 10.80%. The business had revenue of $18.40 million for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was down 98.8% compared to the same quarter last year. Equities analysts anticipate that Dana Incorporated will post $2.33 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Wednesday, August 9th. Dana’s dividend payout ratio (DPR) is presently 5.10%.
Dana Company Profile
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
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