Zacks Investment Management cut its stake in Dana Inc (NYSE:DAN) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,144 shares of the auto parts company’s stock after selling 13,006 shares during the period. Zacks Investment Management’s holdings in Dana were worth $820,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of DAN. Bank of America Corp DE grew its position in Dana by 1.6% in the 4th quarter. Bank of America Corp DE now owns 973,344 shares of the auto parts company’s stock valued at $13,266,000 after buying an additional 14,935 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Dana by 82.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,091,061 shares of the auto parts company’s stock valued at $14,871,000 after purchasing an additional 493,400 shares during the last quarter. Two Sigma Investments LP grew its holdings in Dana by 150.9% during the fourth quarter. Two Sigma Investments LP now owns 1,384,880 shares of the auto parts company’s stock valued at $18,876,000 after purchasing an additional 832,815 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in Dana by 117.1% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 46,170 shares of the auto parts company’s stock valued at $629,000 after purchasing an additional 24,900 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in Dana during the fourth quarter valued at approximately $283,000. 95.72% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on DAN. Zacks Investment Research upgraded Dana from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, January 15th. KeyCorp started coverage on shares of Dana in a research note on Monday, December 10th. They issued an “overweight” rating and a $18.00 price objective on the stock. TheStreet upgraded shares of Dana from a “c” rating to a “b” rating in a research note on Wednesday, February 20th. Barclays restated a “buy” rating and issued a $24.00 price objective on shares of Dana in a research note on Wednesday, March 13th. Finally, Deutsche Bank started coverage on shares of Dana in a research note on Thursday, December 13th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $21.60.
Dana (NYSE:DAN) last issued its earnings results on Friday, February 15th. The auto parts company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Dana had a return on equity of 33.01% and a net margin of 5.24%. Dana’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. As a group, sell-side analysts predict that Dana Inc will post 3.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 1st were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.41%. Dana’s payout ratio is presently 13.47%.
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Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Drive and Motion Technologies, and Power Technologies.
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