Victory Capital Management Inc. cut its holdings in Dana Incorporated (NYSE:DAN) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,807,365 shares of the auto parts company’s stock after selling 44,992 shares during the quarter. Victory Capital Management Inc. owned 1.25% of Dana worth $50,533,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of Dana by 16,306.0% in the first quarter. BlackRock Inc. now owns 15,385,037 shares of the auto parts company’s stock valued at $297,086,000 after buying an additional 15,291,260 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Dana by 3.3% in the second quarter. Vanguard Group Inc. now owns 12,122,567 shares of the auto parts company’s stock valued at $270,696,000 after buying an additional 391,487 shares in the last quarter. State Street Corp boosted its stake in shares of Dana by 3.3% in the second quarter. State Street Corp now owns 5,224,885 shares of the auto parts company’s stock worth $116,673,000 after acquiring an additional 165,291 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Dana by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,342,803 shares of the auto parts company’s stock worth $96,975,000 after acquiring an additional 484,520 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Dana by 14.2% in the second quarter. Goldman Sachs Group Inc. now owns 3,884,437 shares of the auto parts company’s stock worth $86,740,000 after acquiring an additional 481,611 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.
A number of analysts have recently issued reports on DAN shares. BidaskClub lowered Dana from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Barclays PLC lowered Dana from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $24.00 in a research note on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $27.00 price target on shares of Dana in a research note on Thursday, October 5th. Zacks Investment Research lowered Dana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Buckingham Research lifted their price target on Dana from $25.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.00.
Dana Incorporated (NYSE:DAN) opened at $30.79 on Wednesday. The firm has a market capitalization of $4,440.30, a price-to-earnings ratio of 12.31 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.17 and a current ratio of 1.72. Dana Incorporated has a 12 month low of $16.02 and a 12 month high of $31.91.
Dana (NYSE:DAN) last released its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. Dana had a return on equity of 29.34% and a net margin of 10.27%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. equities analysts forecast that Dana Incorporated will post 2.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Thursday, November 9th. Dana’s dividend payout ratio (DPR) is presently 5.02%.
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In other news, Director Terrence J. Keating sold 2,321 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $29.62, for a total value of $68,748.02. Following the transaction, the director now owns 52,140 shares of the company’s stock, valued at approximately $1,544,386.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark E. Wallace sold 36,603 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $29.68, for a total value of $1,086,377.04. Following the completion of the transaction, the executive vice president now directly owns 108,239 shares in the company, valued at approximately $3,212,533.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,759 shares of company stock worth $1,773,750. Corporate insiders own 1.60% of the company’s stock.
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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