Principal Financial Group Inc. grew its stake in shares of Dana Incorporated (NYSE:DAN) by 64.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 978,901 shares of the auto parts company’s stock after buying an additional 384,597 shares during the period. Principal Financial Group Inc. owned approximately 0.68% of Dana worth $21,859,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in DAN. Capstone Asset Management Co. raised its position in shares of Dana by 2.8% during the first quarter. Capstone Asset Management Co. now owns 18,198 shares of the auto parts company’s stock valued at $351,000 after buying an additional 490 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Dana during the first quarter valued at about $391,000. Oregon Public Employees Retirement Fund raised its position in shares of Dana by 1.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 50,335 shares of the auto parts company’s stock valued at $972,000 after buying an additional 700 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Dana by 69.5% during the first quarter. Wells Fargo & Company MN now owns 1,773,994 shares of the auto parts company’s stock valued at $34,256,000 after buying an additional 727,486 shares during the last quarter. Finally, State Treasurer State of Michigan raised its position in shares of Dana by 1.0% during the first quarter. State Treasurer State of Michigan now owns 58,500 shares of the auto parts company’s stock valued at $1,130,000 after buying an additional 600 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.
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A number of research analysts have recently commented on the stock. CLSA assumed coverage on shares of Dana in a research report on Thursday, June 22nd. They set a “buy” rating and a $27.00 price objective for the company. Barclays PLC lowered shares of Dana from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $23.00 to $24.00 in a research report on Wednesday, July 19th. Susquehanna Bancshares Inc lowered shares of Dana from a “neutral” rating to a “negative” rating and set a $19.00 price target for the company. in a research report on Thursday, July 13th. UBS AG reissued a “neutral” rating and issued a $24.00 price target (up previously from $20.00) on shares of Dana in a research report on Tuesday, August 1st. Finally, BidaskClub raised shares of Dana from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Dana has a consensus rating of “Hold” and a consensus target price of $23.50.
Dana Incorporated (NYSE DAN) opened at 24.92 on Wednesday. The company has a 50-day moving average of $23.61 and a 200 day moving average of $21.20. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 5.29 and a beta of 1.49. Dana Incorporated has a 52-week low of $13.93 and a 52-week high of $25.10.
Dana (NYSE:DAN) last posted its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.17. The firm had revenue of $18.40 million during the quarter, compared to the consensus estimate of $1.67 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. The business’s revenue for the quarter was down 98.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, equities research analysts anticipate that Dana Incorporated will post $2.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Wednesday, August 9th. Dana’s dividend payout ratio is currently 5.10%.
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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