Rhumbline Advisers reduced its stake in shares of Dana Inc (NYSE:DAN) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,159 shares of the auto parts company’s stock after selling 11,940 shares during the quarter. Rhumbline Advisers owned about 0.18% of Dana worth $4,969,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. grew its stake in Dana by 54.8% during the 2nd quarter. Macquarie Group Ltd. now owns 9,600 shares of the auto parts company’s stock worth $194,000 after buying an additional 3,400 shares during the last quarter. Global X Management Co LLC bought a new position in Dana during the 2nd quarter worth $220,000. Signition LP bought a new position in Dana during the 3rd quarter worth $227,000. Nomura Holdings Inc. bought a new position in Dana during the 2nd quarter worth $262,000. Finally, PEAK6 Investments L.P. grew its stake in Dana by 157.0% during the 2nd quarter. PEAK6 Investments L.P. now owns 13,866 shares of the auto parts company’s stock worth $280,000 after buying an additional 38,182 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.
A number of brokerages recently commented on DAN. Zacks Investment Research upgraded Dana from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Wolfe Research began coverage on Dana in a research note on Tuesday, October 2nd. They set a “peer perform” rating for the company. Bank of America downgraded Dana from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Thursday, October 18th. JPMorgan Chase & Co. upgraded Dana from a “neutral” rating to an “overweight” rating and set a $24.00 price objective for the company in a research note on Friday, October 19th. Finally, TheStreet downgraded Dana from a “b-” rating to a “c” rating in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.33.
NYSE:DAN opened at $13.70 on Friday. Dana Inc has a 1 year low of $13.63 and a 1 year high of $35.27. The firm has a market capitalization of $2.07 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 1.58 and a beta of 1.87. The company has a quick ratio of 1.04, a current ratio of 1.65 and a debt-to-equity ratio of 1.29.
Dana (NYSE:DAN) last released its quarterly earnings results on Monday, October 29th. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. Dana had a return on equity of 34.30% and a net margin of 2.79%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Dana Inc will post 2.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 9th were paid a $0.10 dividend. The ex-dividend date was Thursday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.92%. Dana’s payout ratio is 15.87%.
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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 Driveline Technologies, and Power Technologies.
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