Profund Advisors LLC Cuts Stake in Dana Incorporated (DAN)
Profund Advisors LLC reduced its position in Dana Incorporated (NYSE:DAN) by 31.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,037 shares of the auto parts company’s stock after selling 9,034 shares during the period. Profund Advisors LLC’s holdings in Dana were worth $447,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings 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 worth $183,000 after purchasing an additional 1,233 shares during the period. World Asset Management Inc increased its position in Dana by 0.3% during the 1st quarter. World Asset Management Inc now owns 10,815 shares of the auto parts company’s stock worth $209,000 after purchasing an additional 37 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Dana by 14.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 118,866 shares of the auto parts company’s stock worth $2,295,000 after purchasing an additional 14,723 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Dana during the 1st quarter worth approximately $1,573,000. Finally, Mason Street Advisors LLC increased its position in Dana by 1.4% during the 1st quarter. Mason Street Advisors LLC now owns 68,035 shares of the auto parts company’s stock worth $1,314,000 after purchasing an additional 910 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.
Dana Incorporated (DAN) opened at 28.79 on Tuesday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 6.11 and a beta of 1.56. Dana Incorporated has a 52 week low of $13.93 and a 52 week high of $28.82. The stock has a 50 day moving average of $24.99 and a 200 day moving average of $22.05.
Dana (NYSE:DAN) last released its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.17. The company had revenue of $18.40 million during the quarter, compared to the consensus estimate of $1.67 billion. Dana had a return on equity of 30.79% and a net margin of 10.80%. The firm’s revenue was down 98.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 EPS. On average, equities research analysts predict that Dana Incorporated will post $2.33 earnings per share for the current fiscal year.
DAN has been the topic of a number of recent research reports. BidaskClub raised shares of Dana from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research raised shares of Dana from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday, July 27th. Guggenheim assumed coverage on shares of Dana in a research report on Wednesday, June 21st. They issued a “buy” rating and a $27.00 price objective for the company. Barclays PLC reissued an “equal weight” rating and issued a $26.00 target price (up previously from $24.00) on shares of Dana in a research note on Wednesday, August 2nd. Finally, Deutsche Bank AG downgraded shares of Dana from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target 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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