Point72 Asset Management L.P. trimmed its stake in shares of Dana Inc (NYSE:DAN) by 88.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,800 shares of the auto parts company’s stock after selling 1,139,664 shares during the quarter. Point72 Asset Management L.P.’s holdings in Dana were worth $2,192,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its stake in shares of Dana by 260.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 118,750 shares of the auto parts company’s stock valued at $2,326,000 after buying an additional 85,850 shares during the period. SG Americas Securities LLC grew its holdings in Dana by 36.1% during the 3rd quarter. SG Americas Securities LLC now owns 41,463 shares of the auto parts company’s stock worth $599,000 after acquiring an additional 10,994 shares in the last quarter. Gabelli Funds LLC grew its holdings in Dana by 0.4% during the 2nd quarter. Gabelli Funds LLC now owns 2,353,532 shares of the auto parts company’s stock worth $46,929,000 after acquiring an additional 8,500 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Dana by 55.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 124,700 shares of the auto parts company’s stock valued at $1,801,000 after purchasing an additional 44,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Dana by 7.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,557,552 shares of the auto parts company’s stock valued at $31,058,000 after purchasing an additional 111,974 shares in the last quarter. 95.48% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on DAN. Zacks Investment Research cut shares of Dana from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Bank of America upgraded Dana from a “neutral” rating to a “buy” rating in a research note on Friday, September 13th. They noted that the move was a valuation call. ValuEngine downgraded Dana from a “sell” rating to a “strong sell” rating in a report on Saturday, October 19th. TheStreet raised Dana from a “c” rating to a “b-” rating in a report on Thursday, November 7th. Finally, UBS Group began coverage on Dana in a research report on Tuesday, November 19th. They set an “outperform” rating and a $20.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $20.56.
Dana (NYSE:DAN) last released its earnings results on Wednesday, October 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Dana had a return on equity of 26.97% and a net margin of 2.80%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. Analysts expect that Dana Inc will post 3.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 8th were paid a $0.10 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.40%. Dana’s dividend payout ratio (DPR) is presently 13.47%.
In other Dana news, CFO Jonathan Mark Collins sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.62, for a total transaction of $176,200.00. Following the transaction, the chief financial officer now directly owns 7,015 shares in the company, valued at $123,604.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dwayne Matthews sold 35,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $17.70, for a total transaction of $619,500.00. Following the transaction, the insider now owns 105,564 shares in the company, valued at $1,868,482.80. The disclosure for this sale can be found here. Insiders have sold 122,421 shares of company stock worth $1,965,648 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.
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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