Texas Permanent School Fund Has $2.36 Million Position in Dana Incorporated (DAN)
Texas Permanent School Fund increased its stake in shares of Dana Incorporated (NYSE:DAN) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,543 shares of the auto parts company’s stock after buying an additional 1,275 shares during the period. Texas Permanent School Fund’s holdings in Dana were worth $2,357,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of DAN. FMR LLC bought a new stake in Dana during the fourth quarter valued at about $2,401,000. Teachers Advisors LLC raised its stake in Dana by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 244,585 shares of the auto parts company’s stock valued at $4,642,000 after buying an additional 5,623 shares during the last quarter. American International Group Inc. raised its stake in Dana by 4.3% in the first quarter. American International Group Inc. now owns 374,437 shares of the auto parts company’s stock valued at $7,230,000 after buying an additional 15,381 shares during the last quarter. Nordea Investment Management AB raised its stake in Dana by 1.3% in the first quarter. Nordea Investment Management AB now owns 80,390 shares of the auto parts company’s stock valued at $1,552,000 after buying an additional 1,004 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in Dana during the first quarter valued at about $237,000. 97.01% of the stock is owned by institutional investors and hedge funds.
Dana Incorporated (NYSE DAN) opened at 24.30 on Thursday. The stock has a market capitalization of $3.52 billion, a P/E ratio of 5.15 and a beta of 1.49. Dana Incorporated has a 12-month low of $13.63 and a 12-month high of $25.10. The firm’s 50-day moving average price is $23.15 and its 200 day moving average price is $20.60.
Dana (NYSE:DAN) last posted its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.17. Dana had a return on equity of 30.79% and a net margin of 10.80%. The business had revenue of $18.40 million for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’s revenue was down 98.8% on a year-over-year basis. On average, equities analysts anticipate that Dana Incorporated will post $2.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Wednesday, August 9th. Dana’s dividend payout ratio is currently 5.10%.
Several equities research analysts have recently issued reports on DAN shares. BidaskClub raised Dana from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Dana in a research note on Wednesday, May 3rd. Zacks Investment Research raised Dana from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday, July 27th. Guggenheim started coverage on Dana in a research note on Wednesday, June 21st. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $26.00 price objective (up from $24.00) on shares of Dana in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Dana has a consensus rating of “Hold” and an average target price of $23.50.
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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