Strs Ohio lowered its stake in Dana Incorporated (NYSE:DAN) by 6.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,700 shares of the auto parts company’s stock after selling 4,300 shares during the quarter. Strs Ohio’s holdings in Dana were worth $1,781,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of DAN. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Dana by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock valued at $113,000 after purchasing an additional 520 shares during the last quarter. ETRADE Capital Management LLC purchased a new position in Dana in the second quarter valued at about $205,000. US Bancorp DE boosted its holdings in Dana by 1.4% in the second quarter. US Bancorp DE now owns 9,605 shares of the auto parts company’s stock valued at $214,000 after purchasing an additional 129 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in Dana by 70.4% in the second quarter. Riverhead Capital Management LLC now owns 10,056 shares of the auto parts company’s stock valued at $225,000 after purchasing an additional 4,156 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its holdings in Dana by 2.9% in the second quarter. Oakbrook Investments LLC now owns 10,700 shares of the auto parts company’s stock valued at $239,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.
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In other news, insider Dwayne Matthews sold 17,543 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $29.60, for a total value of $519,272.80. Following the transaction, the insider now directly owns 76,402 shares of the company’s stock, valued at approximately $2,261,499.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark E. Wallace sold 36,603 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $29.68, for a total value of $1,086,377.04. Following the completion of the transaction, the executive vice president now directly owns 108,239 shares in the company, valued at $3,212,533.52. The disclosure for this sale can be found here. Insiders sold a total of 56,467 shares of company stock worth $1,674,398 over the last three months. 1.60% of the stock is owned by company insiders.
A number of brokerages recently commented on DAN. Royal Bank Of Canada reissued a “buy” rating on shares of Dana in a report on Friday, October 27th. Barclays PLC increased their target price on Dana from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. Buckingham Research increased their target price on Dana from $25.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. FBR & Co reaffirmed a “neutral” rating and set a $25.00 target price (up previously from $17.00) on shares of Dana in a report on Friday, October 27th. Finally, Zacks Investment Research raised Dana from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $27.00.
Dana (NYSE:DAN) last released its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.71 billion. Dana had a return on equity of 29.34% and a net margin of 10.27%. The company’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Thursday, November 9th. Dana’s payout ratio is currently 5.02%.
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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