Martingale Asset Management L P Decreases Stake in Dana Incorporated (DAN)
Martingale Asset Management L P decreased its position in Dana Incorporated (NYSE:DAN) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,041 shares of the auto parts company’s stock after selling 11,715 shares during the quarter. Martingale Asset Management L P owned about 0.08% of Dana worth $2,458,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Dana by 11.5% in the second 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 during the period. US Bancorp DE boosted its stake in shares of 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 period. World Asset Management Inc boosted its stake in shares of 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 period. Shelton Capital Management bought a new stake in shares of Dana in the first quarter valued at approximately $210,000. Finally, Koch Industries Inc. bought a new stake in shares of Dana in the first quarter valued at approximately $237,000. 98.61% of the stock is currently owned by institutional investors.
DAN has been the subject of several recent research reports. BidaskClub cut Dana from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Barclays PLC cut Dana from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $24.00 in a research note on Wednesday, July 19th. Guggenheim initiated coverage on Dana in a research note on Wednesday, June 21st. They issued a “buy” rating and a $27.00 price target for the company. UBS AG cut Dana to a “neutral” rating in a research note on Thursday, July 13th. Finally, Zacks Investment Research cut Dana from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.50.
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Shares of Dana Incorporated (NYSE:DAN) opened at 26.54 on Tuesday. The firm’s 50-day moving average price is $23.96 and its 200 day moving average price is $21.44. Dana Incorporated has a 1-year low of $13.93 and a 1-year high of $26.93. The company has a market capitalization of $3.84 billion, a PE ratio of 5.63 and a beta of 1.49.
Dana (NYSE:DAN) last released its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.17. The firm had revenue of $18.40 million during the quarter, compared to analyst estimates of $1.67 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. The business’s revenue for the quarter was down 98.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. Equities analysts predict that Dana Incorporated will post $2.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis 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%.
Dana Company Profile
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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