Ameritas Investment Partners Inc. Raises Stake in Dana Incorporated (DAN)
Ameritas Investment Partners Inc. lifted its position in Dana Incorporated (NYSE:DAN) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,136 shares of the auto parts company’s stock after purchasing an additional 805 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Dana were worth $1,254,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of DAN. US Bancorp DE increased its holdings 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 worth $183,000 after purchasing an additional 1,233 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Dana by 14.1% during the first quarter. UBS Asset Management Americas Inc. now owns 118,866 shares of the auto parts company’s stock worth $2,295,000 after acquiring an additional 14,723 shares during the last quarter. KBC Group NV increased its stake in Dana by 47.3% during the first quarter. KBC Group NV now owns 14,503 shares of the auto parts company’s stock worth $280,000 after acquiring an additional 4,656 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Dana by 19.2% during the first quarter. OppenheimerFunds Inc. now owns 75,958 shares of the auto parts company’s stock worth $1,467,000 after acquiring an additional 12,255 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Dana by 3.2% during the first quarter. Principal Financial Group Inc. now owns 594,304 shares of the auto parts company’s stock worth $11,476,000 after acquiring an additional 18,158 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
Dana (NYSE:DAN) last released its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.68 EPS for the quarter, beating the Zacks’ 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 net margin of 10.80% and a return on equity of 30.79%. Dana’s quarterly revenue was down 98.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS.
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Several equities research analysts have weighed in on the company. CLSA assumed coverage on Dana in a research note on Thursday, June 22nd. They set a “buy” rating and a $27.00 price objective on the stock. Barclays PLC cut Dana from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $23.00 to $24.00 in a research note on Wednesday, July 19th. Susquehanna Bancshares Inc cut Dana from a “neutral” rating to a “negative” rating and set a $19.00 price objective on the stock. in a research note on Thursday, July 13th. UBS AG reissued a “neutral” rating and set a $24.00 price objective (up from $20.00) on shares of Dana in a research note on Tuesday, August 1st. Finally, Zacks Investment Research cut Dana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Dana has an average rating of “Hold” and an average price target of $23.80.
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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