Goldman Sachs Group Inc. raised its holdings in Dana Inc (NYSE:DAN) by 19.5% during the fourth quarter, HoldingsChannel reports. The firm owned 4,722,951 shares of the auto parts company’s stock after buying an additional 771,233 shares during the period. Goldman Sachs Group Inc.’s holdings in Dana were worth $151,182,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Dana by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,502 shares of the auto parts company’s stock valued at $240,000 after purchasing an additional 2,447 shares in the last quarter. Rhumbline Advisers raised its position in shares of Dana by 1.1% in the 4th quarter. Rhumbline Advisers now owns 309,003 shares of the auto parts company’s stock valued at $9,891,000 after purchasing an additional 3,218 shares in the last quarter. KBC Group NV raised its position in shares of Dana by 107.9% in the 4th quarter. KBC Group NV now owns 6,707 shares of the auto parts company’s stock valued at $215,000 after purchasing an additional 3,481 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Dana in the 4th quarter valued at approximately $120,000. Finally, Itau Unibanco Holding S.A. raised its position in shares of Dana by 29.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 17,791 shares of the auto parts company’s stock valued at $569,000 after purchasing an additional 4,060 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.
In other Dana news, EVP Mark E. Wallace sold 40,339 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $33.42, for a total value of $1,348,129.38. Following the sale, the executive vice president now directly owns 108,139 shares of the company’s stock, valued at $3,614,005.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dwayne Matthews sold 33,244 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $33.22, for a total value of $1,104,365.68. Following the completion of the sale, the insider now directly owns 65,267 shares in the company, valued at $2,168,169.74. The disclosure for this sale can be found here. Insiders sold 86,207 shares of company stock worth $2,870,602 over the last ninety days. 1.60% of the stock is owned by corporate insiders.
Dana (NYSE:DAN) last posted its quarterly earnings results on Tuesday, February 13th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.09. Dana had a return on equity of 30.70% and a net margin of 1.54%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue was up 27.0% compared to the same quarter last year. research analysts predict that Dana Inc will post 2.8 earnings per share for the current year.
Dana announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This is a positive change from Dana’s previous quarterly dividend of $0.06. This represents a $0.40 annualized dividend and a yield of 1.53%. Dana’s dividend payout ratio (DPR) is currently 57.14%.
A number of equities analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating and issued a $40.00 target price on shares of Dana in a research report on Wednesday, January 10th. JPMorgan Chase & Co. dropped their price target on Dana from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Gabelli reissued a “buy” rating on shares of Dana in a research report on Wednesday, February 14th. Zacks Investment Research lowered Dana from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Finally, Deutsche Bank upped their price target on Dana from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, November 17th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Dana presently has an average rating of “Hold” and an average target price of $30.45.
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.
Want to see what other hedge funds are holding DAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dana Inc (NYSE:DAN).
Receive News & Ratings for Dana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dana and related companies with MarketBeat.com's FREE daily email newsletter.