Piedmont Investment Advisors LLC Invests $2.43 Million in Dana Inc (DAN) Stock
Piedmont Investment Advisors LLC acquired a new position in shares of Dana Inc (NYSE:DAN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 86,833 shares of the auto parts company’s stock, valued at approximately $2,428,000. Piedmont Investment Advisors LLC owned about 0.06% of Dana as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of DAN. Janus Henderson Group PLC acquired a new stake in shares of Dana in the 2nd quarter worth $41,249,000. Frontier Capital Management Co. LLC lifted its stake in shares of Dana by 163.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,875,693 shares of the auto parts company’s stock worth $64,214,000 after acquiring an additional 1,784,986 shares during the period. Anchor Bolt Capital LP lifted its stake in shares of Dana by 101.2% in the 3rd quarter. Anchor Bolt Capital LP now owns 2,666,372 shares of the auto parts company’s stock worth $74,552,000 after acquiring an additional 1,341,353 shares during the period. Northern Trust Corp lifted its stake in shares of Dana by 32.5% in the 2nd quarter. Northern Trust Corp now owns 3,070,975 shares of the auto parts company’s stock worth $68,574,000 after acquiring an additional 753,716 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Dana by 12.6% in the 2nd 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 period. 96.49% of the stock is currently owned by institutional investors.
Shares of Dana Inc (DAN) opened at $31.06 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 1.36. Dana Inc has a 52 week low of $17.53 and a 52 week high of $33.45. The company has a market cap of $4,583.72, a PE ratio of 12.71 and a beta of 1.67.
Dana (NYSE:DAN) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. Dana had a net margin of 10.27% and a return on equity of 29.34%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was up 32.3% compared to the same quarter last year. research analysts forecast that Dana Inc will post 2.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Thursday, November 9th. Dana’s dividend payout ratio (DPR) is 5.02%.
Several analysts have recently commented on DAN shares. Zacks Investment Research cut shares of Dana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Deutsche Bank raised their target price on shares of Dana from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, November 17th. Royal Bank of Canada restated a “buy” rating on shares of Dana in a research note on Friday, October 27th. Barclays raised their target price on shares of Dana from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Finally, FBR & Co restated a “neutral” rating and issued a $25.00 target price (up previously from $17.00) on shares of Dana in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Dana currently has a consensus rating of “Hold” and an average price target of $28.00.
In related news, Director Terrence J. Keating sold 2,321 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $29.62, for a total value of $68,748.02. Following the completion of the sale, the director now owns 52,140 shares in the company, valued at $1,544,386.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark E. Wallace sold 36,603 shares of Dana stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $29.68, for a total transaction of $1,086,377.04. Following the transaction, the executive vice president now owns 108,239 shares of the company’s stock, valued at approximately $3,212,533.52. The disclosure for this sale can be found here. Insiders sold 124,085 shares of company stock valued at $3,776,775 in the last quarter. Company 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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