Dana Inc (DAN) Holdings Raised by BlueMountain Capital Management LLC
BlueMountain Capital Management LLC raised its holdings in shares of Dana Inc (NYSE:DAN) by 575.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 371,774 shares of the auto parts company’s stock after purchasing an additional 316,747 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Dana were worth $7,506,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in Dana by 7.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,027,760 shares of the auto parts company’s stock valued at $26,475,000 after purchasing an additional 70,655 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in Dana during the 2nd quarter worth approximately $869,000. Adams Diversified Equity Fund Inc. lifted its holdings in Dana by 43.2% during the 2nd quarter. Adams Diversified Equity Fund Inc. now owns 37,800 shares of the auto parts company’s stock worth $763,000 after buying an additional 11,400 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Dana by 40.8% during the 1st quarter. GSA Capital Partners LLP now owns 107,358 shares of the auto parts company’s stock worth $2,766,000 after buying an additional 31,118 shares during the last quarter. Finally, Water Island Capital LLC bought a new position in Dana during the 1st quarter worth approximately $680,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.
A number of research analysts have commented on DAN shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $30.00 target price on shares of Dana in a report on Tuesday, July 17th. Bank of America started coverage on Dana in a report on Friday, June 1st. They set a “buy” rating and a $28.00 target price on the stock. Zacks Investment Research raised Dana from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Stephens reaffirmed a “hold” rating and set a $23.00 target price on shares of Dana in a report on Wednesday, August 1st. Finally, Buckingham Research reduced their target price on Dana from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.67.
Shares of NYSE DAN opened at $19.06 on Wednesday. The company has a market capitalization of $2.83 billion, a P/E ratio of 7.56, a P/E/G ratio of 5.23 and a beta of 1.71. Dana Inc has a 12-month low of $18.08 and a 12-month high of $35.27. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.05 and a current ratio of 1.63.
Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, July 25th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.04). The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2 billion. Dana had a return on equity of 32.56% and a net margin of 2.51%. The company’s revenue for the quarter was up 11063.0% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. research analysts forecast that Dana Inc will post 2.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, August 9th. Dana’s dividend payout ratio (DPR) is 15.87%.
Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.
Further Reading: Asset Allocation, Balancing Your Investments
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