10,780 Shares in Dana Incorporated (DAN) Purchased by Meridian Wealth Management LLC
Meridian Wealth Management LLC purchased a new stake in Dana Incorporated (NYSE:DAN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,780 shares of the auto parts company’s stock, valued at approximately $301,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Frontier Capital Management Co. LLC raised its stake in Dana by 24.9% in the third 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 buying an additional 717,152 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Dana in the third quarter valued at about $524,000. Fox Run Management L.L.C. purchased a new stake in Dana in the third quarter valued at about $1,040,000. Assenagon Asset Management S.A. purchased a new stake in Dana in the third quarter valued at about $3,942,000. Finally, Ameritas Investment Partners Inc. raised its stake in Dana by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 56,136 shares of the auto parts company’s stock valued at $1,254,000 after buying an additional 805 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.
Shares of Dana Incorporated (NYSE DAN) traded down $0.03 during mid-day trading on Friday, hitting $31.34. The stock had a trading volume of 1,968,811 shares, compared to its average volume of 1,206,434. The firm has a market capitalization of $4,540.26, a price-to-earnings ratio of 12.59 and a beta of 1.64. 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 Incorporated has a fifty-two week low of $14.53 and a fifty-two week high of $31.91.
Dana (NYSE:DAN) last announced its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.71 billion. Dana had a net margin of 10.27% and a return on equity of 29.34%. The firm’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. equities analysts expect that Dana Incorporated will post 2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, November 9th. Dana’s dividend payout ratio (DPR) is presently 5.02%.
In related news, insider Dwayne Matthews sold 17,543 shares of Dana stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $29.60, for a total transaction of $519,272.80. Following the sale, the insider now directly owns 76,402 shares of the company’s stock, valued at approximately $2,261,499.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark E. Wallace sold 36,603 shares of Dana stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $29.68, for a total transaction of $1,086,377.04. Following the sale, the executive vice president now directly owns 108,239 shares in the company, valued at $3,212,533.52. The disclosure for this sale can be found here. Insiders have sold a total of 59,759 shares of company stock worth $1,773,750 over the last ninety days. 1.60% of the stock is currently owned by insiders.
A number of research firms have commented on DAN. Buckingham Research increased their price target on Dana from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. FBR & Co reiterated a “neutral” rating and issued a $25.00 price target (up from $17.00) on shares of Dana in a research note on Friday, October 27th. Royal Bank Of Canada reiterated a “buy” rating on shares of Dana in a research note on Friday, October 27th. Susquehanna Bancshares Inc cut Dana from a “neutral” rating to a “negative” rating and set a $19.00 price target for the company. in a research note on Thursday, July 13th. Finally, UBS AG reiterated a “neutral” rating and issued a $24.00 price target (up from $20.00) on shares of Dana in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $27.00.
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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