DekaBank Deutsche Girozentrale Purchases Shares of 32,900 Dana Inc (DAN)
DekaBank Deutsche Girozentrale purchased a new position in Dana Inc (NYSE:DAN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 32,900 shares of the auto parts company’s stock, valued at approximately $620,000.
A number of other hedge funds also recently added to or reduced their stakes in DAN. BlackRock Inc. grew its stake in Dana by 12.1% in the 2nd quarter. BlackRock Inc. now owns 18,788,509 shares of the auto parts company’s stock worth $379,339,000 after buying an additional 2,022,490 shares in the last quarter. Renaissance Technologies LLC grew its stake in Dana by 286.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,032,300 shares of the auto parts company’s stock worth $20,842,000 after buying an additional 765,400 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Dana by 10.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 6,404,004 shares of the auto parts company’s stock worth $119,563,000 after buying an additional 616,595 shares in the last quarter. LSV Asset Management grew its stake in Dana by 21.8% in the 2nd quarter. LSV Asset Management now owns 2,303,746 shares of the auto parts company’s stock worth $46,512,000 after buying an additional 411,821 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in Dana by 36,524.9% in the 2nd quarter. Systematic Financial Management LP now owns 329,624 shares of the auto parts company’s stock worth $6,655,000 after buying an additional 328,724 shares in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Dana from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Wolfe Research assumed coverage on shares of Dana in a research note on Tuesday, October 2nd. They issued a “peer perform” rating for the company. TheStreet cut shares of Dana from a “b-” rating to a “c” rating in a research note on Monday, October 29th. Royal Bank of Canada reissued a “buy” rating and issued a $21.00 price target on shares of Dana in a research note on Monday, October 29th. Finally, Bank of America cut shares of Dana from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Thursday, October 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.33.
Dana (NYSE:DAN) last announced its quarterly earnings data on Monday, October 29th. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. Dana had a net margin of 2.79% and a return on equity of 34.30%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts forecast that Dana Inc will post 2.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 9th were paid a $0.10 dividend. The ex-dividend date was Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.92%. Dana’s dividend payout ratio (DPR) is 15.87%.
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Dana Company Profile
Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.
Further Reading: Compound Interest and Why It Matters When Investing
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