Dana Inc (DAN) Stake Increased by Millennium Management LLC
Millennium Management LLC grew its stake in shares of Dana Inc (NYSE:DAN) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,748,123 shares of the auto parts company’s stock after purchasing an additional 27,020 shares during the quarter. Millennium Management LLC’s holdings in Dana were worth $35,295,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of DAN. Macquarie Group Ltd. boosted its stake in shares of Dana by 54.8% during the second quarter. Macquarie Group Ltd. now owns 9,600 shares of the auto parts company’s stock valued at $194,000 after purchasing an additional 3,400 shares during the period. Delpha Capital Management LLC lifted its stake in Dana by 1,472.2% in the first quarter. Delpha Capital Management LLC now owns 9,433 shares of the auto parts company’s stock worth $243,000 after acquiring an additional 8,833 shares during the period. First Allied Advisory Services Inc. lifted its stake in Dana by 30.5% in the first quarter. First Allied Advisory Services Inc. now owns 9,639 shares of the auto parts company’s stock worth $250,000 after acquiring an additional 2,255 shares during the period. PEAK6 Investments L.P. lifted its stake in Dana by 157.0% in the second quarter. PEAK6 Investments L.P. now owns 13,866 shares of the auto parts company’s stock worth $280,000 after acquiring an additional 38,182 shares during the period. Finally, HAP Trading LLC lifted its stake in Dana by 38.4% in the first quarter. HAP Trading LLC now owns 14,391 shares of the auto parts company’s stock worth $371,000 after acquiring an additional 3,991 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Dana from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Stephens reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Dana in a research note on Wednesday, August 1st. Buckingham Research lowered their price objective on shares of Dana from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, July 26th. Barclays raised shares of Dana from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research note on Thursday, July 26th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Dana in a research note on Tuesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Dana currently has an average rating of “Hold” and a consensus price target of $27.67.
Dana (NYSE:DAN) last announced its earnings results on Wednesday, July 25th. The auto parts company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.04). The firm 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 business’s revenue for the quarter was up 11063.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. sell-side analysts anticipate that Dana Inc will post 2.95 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 10th were issued a $0.10 dividend. The ex-dividend date was Thursday, August 9th. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. Dana’s dividend payout ratio is presently 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.
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