Dana Inc (DAN) Position Reduced by Trexquant Investment LP
Trexquant Investment LP lessened its stake in Dana Inc (NYSE:DAN) by 13.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,241 shares of the auto parts company’s stock after selling 12,124 shares during the period. Trexquant Investment LP’s holdings in Dana were worth $1,519,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. purchased a new position in Dana in the 2nd quarter worth about $869,000. Principal Financial Group Inc. increased its position 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 during the period. GSA Capital Partners LLP increased its position 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 valued at $2,766,000 after purchasing an additional 31,118 shares during the period. Water Island Capital LLC purchased a new position in Dana during the 1st quarter valued at about $680,000. Finally, A.R.T. Advisors LLC increased its position in Dana by 358.8% during the 1st quarter. A.R.T. Advisors LLC now owns 164,700 shares of the auto parts company’s stock valued at $4,242,000 after purchasing an additional 128,800 shares during the period. 92.75% of the stock is currently owned by institutional investors.
Shares of Dana stock opened at $20.25 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.05 and a debt-to-equity ratio of 1.41. Dana Inc has a 52-week low of $18.08 and a 52-week high of $35.27. The company has a market capitalization of $2.89 billion, a PE ratio of 8.04, a PEG ratio of 5.35 and a beta of 1.73.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Friday, August 10th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, August 9th. Dana’s payout ratio is currently 15.87%.
In other news, Director Virginia A. Kamsky sold 13,642 shares of Dana stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $22.30, for a total value of $304,216.60. Following the transaction, the director now owns 32,549 shares of the company’s stock, valued at approximately $725,842.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith E. Wandell sold 14,576 shares of Dana stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $20.56, for a total transaction of $299,682.56. Following the completion of the transaction, the director now directly owns 69,988 shares in the company, valued at approximately $1,438,953.28. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
DAN has been the topic of a number of research reports. Guggenheim downgraded shares of Dana from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research report on Tuesday, May 1st. JPMorgan Chase & Co. initiated coverage on shares of Dana in a research report on Tuesday, May 1st. They set a “neutral” rating and a $28.00 target price on the stock. Barclays cut their target price on shares of Dana from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 1st. TheStreet raised shares of Dana from a “c” rating to a “b-” rating in a research report on Monday, April 30th. Finally, Zacks Investment Research downgraded shares of Dana from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $27.67.
Dana Company Profile
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.
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