Engineers Gate Manager LP Takes $301,000 Position in Dana Incorporated (DAN)
Engineers Gate Manager LP bought a new stake in shares of Dana Incorporated (NYSE:DAN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,483 shares of the auto parts company’s stock, valued at approximately $301,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DAN. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Dana by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock valued at $113,000 after buying an additional 520 shares in the last quarter. US Bancorp DE lifted its stake in shares of Dana by 15.0% during the 1st 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 in the last quarter. World Asset Management Inc lifted its stake in shares of Dana by 0.3% during the 1st 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 in the last quarter. Shelton Capital Management purchased a new position in shares of Dana during the 1st quarter valued at $210,000. Finally, Koch Industries Inc. purchased a new position in shares of Dana during the 1st quarter valued at $237,000. Institutional investors own 98.61% of the company’s stock.
Shares of Dana Incorporated (NYSE:DAN) opened at 26.54 on Tuesday. Dana Incorporated has a 12-month low of $13.93 and a 12-month high of $26.93. The company has a market capitalization of $3.84 billion, a P/E ratio of 5.63 and a beta of 1.49. The stock has a 50 day moving average of $23.96 and a 200-day moving average of $21.44.
Dana (NYSE:DAN) last posted its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.17. The firm had revenue of $18.40 million for the quarter, compared to the consensus estimate of $1.67 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. The company’s revenue for the quarter was down 98.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. Equities research analysts forecast that Dana Incorporated will post $2.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, August 9th. Dana’s dividend payout ratio is currently 5.10%.
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DAN has been the topic of several research analyst reports. BidaskClub cut shares of Dana from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Dana from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, July 27th. Guggenheim initiated coverage on shares of Dana in a research note on Wednesday, June 21st. They issued a “buy” rating and a $27.00 price target on the stock. CLSA initiated coverage on shares of Dana in a research note on Thursday, June 22nd. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Barclays PLC cut shares of Dana from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $24.00 in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Dana currently has an average 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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