Brandywine Global Investment Management LLC Sells 15,730 Shares of Dana Incorporated (DAN)
Brandywine Global Investment Management LLC decreased its stake in shares of Dana Incorporated (NYSE:DAN) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 546,509 shares of the auto parts company’s stock after selling 15,730 shares during the period. Brandywine Global Investment Management LLC owned 0.38% of Dana worth $12,204,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 purchasing an additional 520 shares during the period. US Bancorp DE grew its position 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 purchasing an additional 1,233 shares during the period. ETRADE Capital Management LLC purchased a new stake in shares of Dana in the second quarter valued at $205,000. World Asset Management Inc grew its position 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 purchasing an additional 37 shares during the period. Finally, Shelton Capital Management purchased a new stake in shares of Dana in the first quarter valued at $210,000. 98.61% of the stock is owned by institutional investors.
A number of brokerages have recently commented on DAN. BidaskClub downgraded Dana from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Dana in a research report on Wednesday, August 2nd. Buckingham Research lifted their price objective on Dana from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. UBS AG reaffirmed a “neutral” rating and issued a $24.00 price objective (up previously from $20.00) on shares of Dana in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.50.
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Dana Incorporated (NYSE:DAN) opened at 27.96 on Friday. Dana Incorporated has a one year low of $13.93 and a one year high of $28.17. The firm has a market cap of $4.05 billion, a PE ratio of 5.93 and a beta of 1.49. The company has a 50-day moving average price of $24.04 and a 200-day moving average price of $21.50.
Dana (NYSE:DAN) last posted its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.17. Dana had a net margin of 10.80% and a return on equity of 30.79%. The business had revenue of $18.40 million for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business posted $0.53 earnings per share. Dana’s revenue for the quarter was down 98.8% compared to the same quarter last year. Equities analysts predict that Dana Incorporated will post $2.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Wednesday, August 9th. Dana’s dividend payout ratio (DPR) is presently 5.10%.
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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