Dana Inc (DAN) Stake Lowered by Martingale Asset Management L P
Martingale Asset Management L P reduced its position in shares of Dana Inc (NYSE:DAN) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,475 shares of the auto parts company’s stock after selling 6,863 shares during the period. Martingale Asset Management L P’s holdings in Dana were worth $2,512,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DAN. Crossmark Global Holdings Inc. purchased a new position in shares of Dana during the 3rd quarter valued at $524,000. Frontier Capital Management Co. LLC grew its position in shares of Dana by 24.9% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,592,845 shares of the auto parts company’s stock valued at $100,456,000 after purchasing an additional 717,152 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Dana during the 3rd quarter valued at $301,000. Chicago Equity Partners LLC grew its position in shares of Dana by 178.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 92,910 shares of the auto parts company’s stock valued at $2,598,000 after purchasing an additional 59,555 shares in the last quarter. Finally, USA Financial Portformulas Corp purchased a new position in shares of Dana during the 3rd quarter valued at $563,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
Dana Inc (NYSE:DAN) opened at $25.75 on Friday. Dana Inc has a 1 year low of $17.53 and a 1 year high of $35.27. The stock has a market cap of $3,730.00, a price-to-earnings ratio of 35.76 and a beta of 1.79. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.69 and a quick ratio of 1.12.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, March 1st. This is a positive change from Dana’s previous quarterly dividend of $0.06. This represents a $0.40 annualized dividend and a yield of 1.55%. Dana’s payout ratio is 55.56%.
Dana announced that its board has authorized a stock repurchase program on Wednesday, January 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of research firms have recently commented on DAN. Guggenheim set a $36.00 price target on shares of Dana and gave the company a “buy” rating in a research report on Wednesday, February 14th. TheStreet lowered shares of Dana from a “b” rating to a “c” rating in a research report on Tuesday, February 13th. Zacks Investment Research upgraded shares of Dana from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, February 6th. Barclays restated a “hold” rating and set a $32.00 price target on shares of Dana in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Dana from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $29.55.
In other Dana news, Director Virginia A. Kamsky sold 7,323 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $32.14, for a total value of $235,361.22. Following the completion of the sale, the director now directly owns 35,448 shares of the company’s stock, valued at $1,139,298.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dwayne Matthews sold 33,244 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $33.22, for a total transaction of $1,104,365.68. Following the completion of the sale, the insider now directly owns 65,267 shares of the company’s stock, valued at $2,168,169.74. The disclosure for this sale can be found here. Insiders sold 93,530 shares of company stock valued at $3,105,963 over the last quarter. 1.60% of the stock is owned by company insiders.
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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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