Dana Incorporated (NYSE:DAN) Director Terrence J. Keating sold 2,321 shares of Dana stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $29.62, for a total value of $68,748.02. Following the completion of the transaction, the director now directly owns 52,140 shares of the company’s stock, valued at $1,544,386.80. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Dana (NYSE:DAN) last announced its earnings results on Thursday, October 26th. The auto parts company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. Dana had a net margin of 10.27% and a return on equity of 29.34%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 32.3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Thursday, November 9th. Dana’s dividend payout ratio is 5.02%.
Several research analysts have recently weighed in on the company. Buckingham Research lifted their price objective on Dana from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. FBR & Co reissued a “neutral” rating and issued a $25.00 price objective (up from $17.00) on shares of Dana in a research report on Friday, October 27th. Royal Bank Of Canada reissued a “buy” rating on shares of Dana in a research report on Friday, October 27th. Susquehanna Bancshares Inc lowered Dana from a “neutral” rating to a “negative” rating and set a $19.00 price objective for the company. in a research report on Thursday, July 13th. Finally, UBS AG reissued a “neutral” rating and issued a $24.00 price objective (up from $20.00) on shares of Dana in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $27.00.
Several hedge funds and other institutional investors have recently made changes to their positions in DAN. BlackRock Inc. increased its stake in shares of Dana by 16,306.0% during the first quarter. BlackRock Inc. now owns 15,385,037 shares of the auto parts company’s stock valued at $297,086,000 after purchasing an additional 15,291,260 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Dana during the second quarter valued at approximately $41,249,000. Frontier Capital Management Co. LLC increased its position in shares of Dana by 163.7% during the second quarter. Frontier Capital Management Co. LLC now owns 2,875,693 shares of the auto parts company’s stock valued at $64,214,000 after acquiring an additional 1,784,986 shares in the last quarter. Northern Trust Corp increased its position in shares of Dana by 32.5% during the second quarter. Northern Trust Corp now owns 3,070,975 shares of the auto parts company’s stock valued at $68,574,000 after acquiring an additional 753,716 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Dana by 4.7% during the first quarter. Vanguard Group Inc. now owns 11,731,080 shares of the auto parts company’s stock valued at $226,527,000 after acquiring an additional 527,535 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.
Dana Company Profile
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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