361 Capital LLC Acquires Shares of 82,608 Dana Incorporated (DAN)
361 Capital LLC acquired a new stake in Dana Incorporated (NYSE:DAN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 82,608 shares of the auto parts company’s stock, valued at approximately $2,310,000. 361 Capital LLC owned approximately 0.06% of Dana at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in DAN. Janus Henderson Group PLC bought a new position in shares of Dana in the second quarter valued at $41,249,000. Frontier Capital Management Co. LLC lifted its position in shares of Dana by 163.7% during the second quarter. Frontier Capital Management Co. LLC now owns 2,875,693 shares of the auto parts company’s stock valued at $64,214,000 after purchasing an additional 1,784,986 shares in the last quarter. Northern Trust Corp lifted its position in shares of Dana by 32.5% during the second quarter. Northern Trust Corp now owns 3,070,975 shares of the auto parts company’s stock valued at $68,574,000 after purchasing an additional 753,716 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Dana by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,342,803 shares of the auto parts company’s stock valued at $96,975,000 after purchasing an additional 484,520 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Dana by 14.2% during the second quarter. Goldman Sachs Group Inc. now owns 3,884,437 shares of the auto parts company’s stock valued at $86,740,000 after purchasing an additional 481,611 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.
Dana Incorporated (NYSE DAN) traded up $0.68 on Friday, hitting $31.00. 947,200 shares of the stock traded hands, compared to its average volume of 1,496,673. The stock has a market capitalization of $4,392.49, a P/E ratio of 12.18 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.72 and a quick ratio of 1.17. Dana Incorporated has a 52-week low of $16.38 and a 52-week high of $31.91.
Dana (NYSE:DAN) last posted its earnings results on Thursday, October 26th. The auto parts company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.71 billion. Dana had a net margin of 10.27% and a return on equity of 29.34%. The company’s revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. research analysts expect that Dana Incorporated will post 2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. Dana’s payout ratio is 5.02%.
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A number of research analysts recently weighed in on the stock. UBS AG reissued a “neutral” rating and set a $24.00 price target (up from $20.00) on shares of Dana in a research report on Tuesday, August 1st. B. Riley reissued a “neutral” rating on shares of Dana in a research report on Wednesday, November 1st. Deutsche Bank AG raised their price target on shares of Dana from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Friday. BidaskClub lowered shares of Dana from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Buckingham Research raised their price target on shares of Dana from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Dana presently has an average rating of “Hold” and an average target price of $28.00.
In related news, SVP Rodney R. Filcek sold 3,292 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $30.18, for a total transaction of $99,352.56. Following the completion of the transaction, the senior vice president now owns 50,251 shares of the company’s stock, valued at $1,516,575.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Terrence J. Keating sold 2,321 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $29.62, for a total transaction of $68,748.02. Following the transaction, the director now directly owns 52,140 shares of the company’s stock, valued at approximately $1,544,386.80. The disclosure for this sale can be found here. Insiders sold 59,759 shares of company stock valued at $1,773,750 in the last quarter. Corporate insiders own 1.60% of the company’s stock.
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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