Canada Pension Plan Investment Board Raises Stake in Dana Incorporated (DAN)
Canada Pension Plan Investment Board increased its stake in Dana Incorporated (NYSE:DAN) by 28.0% during the second quarter, Holdings Channel reports. The fund owned 457,700 shares of the auto parts company’s stock after buying an additional 100,100 shares during the period. Canada Pension Plan Investment Board’s holdings in Dana were worth $10,220,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ledyard National Bank bought a new position in Dana during the first quarter valued at about $168,000. US Bancorp DE increased its position in Dana by 15.0% in the first quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock valued at $183,000 after buying an additional 1,233 shares during the last quarter. World Asset Management Inc increased its position in Dana by 0.3% in the first quarter. World Asset Management Inc now owns 10,815 shares of the auto parts company’s stock valued at $209,000 after buying an additional 37 shares during the last quarter. Shelton Capital Management bought a new position in Dana during the first quarter valued at about $210,000. Finally, Koch Industries Inc. bought a new position in Dana during the first quarter valued at about $237,000. Institutional investors own 97.55% of the company’s stock.
Shares of Dana Incorporated (NYSE:DAN) opened at 22.83 on Friday. Dana Incorporated has a 12 month low of $13.93 and a 12 month high of $25.10. The stock’s 50 day moving average is $23.49 and its 200 day moving average is $20.77. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 4.84 and a beta of 1.49.
Dana (NYSE:DAN) last released its earnings results on Monday, July 31st. The auto parts company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.51 by $0.17. Dana had a net margin of 10.80% and a return on equity of 30.79%. The firm had revenue of $18.40 million for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm earned $0.53 EPS. The business’s quarterly revenue was down 98.8% compared to the same quarter last year. Equities research analysts forecast that Dana Incorporated will post $2.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, August 9th. Dana’s dividend payout ratio is currently 5.10%.
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DAN has been the topic of several research reports. Guggenheim initiated coverage on shares of Dana in a report on Wednesday, June 21st. They set a “buy” rating and a $27.00 price objective on the stock. BidaskClub upgraded shares of Dana from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Deutsche Bank AG reiterated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Dana in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Dana from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Tuesday, April 25th. Finally, CLSA assumed coverage on shares of Dana in a research report on Thursday, June 22nd. They set a “buy” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target 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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