Dana Incorporated (DAN) Shares Sold by State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D reduced its stake in Dana Incorporated (NYSE:DAN) by 25.0% during the second quarter, Holdings Channel reports. The fund owned 150,000 shares of the auto parts company’s stock after selling 50,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Dana were worth $3,350,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAN. Great West Life Assurance Co. Can boosted its position in Dana by 1.1% in the second quarter. Great West Life Assurance Co. Can now owns 85,680 shares of the auto parts company’s stock valued at $1,912,000 after buying an additional 942 shares during the last quarter. ING Groep NV purchased a new position in Dana during the second quarter valued at $393,000. Oakbrook Investments LLC boosted its position in Dana by 2.9% in the second quarter. Oakbrook Investments LLC now owns 10,700 shares of the auto parts company’s stock valued at $239,000 after buying an additional 300 shares during the last quarter. US Bancorp DE boosted its position in Dana by 1.4% in the second quarter. US Bancorp DE now owns 9,605 shares of the auto parts company’s stock valued at $214,000 after buying an additional 129 shares during the last quarter. Finally, State Treasurer State of Michigan boosted its position in Dana by 1.9% in the second quarter. State Treasurer State of Michigan now owns 59,600 shares of the auto parts company’s stock valued at $1,331,000 after buying an additional 1,100 shares during the last quarter. 97.55% of the stock is currently owned by hedge funds and other institutional investors.
Dana Incorporated (DAN) opened at 23.62 on Wednesday. The company has a market cap of $3.42 billion, a PE ratio of 5.01 and a beta of 1.49. Dana Incorporated has a 1-year low of $13.63 and a 1-year high of $25.10. The company has a 50-day moving average price of $23.39 and a 200-day moving average price of $20.72.
Dana (NYSE:DAN) last announced its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.51 by $0.17. The business had revenue of $18.40 million for the quarter, compared to analysts’ expectations of $1.67 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. The business’s quarterly revenue was down 98.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. On average, analysts expect that Dana Incorporated will post $2.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, August 9th. Dana’s payout ratio is currently 5.10%.
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Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Dana from a “buy” rating to a “hold” rating in a report on Saturday. Barclays PLC reaffirmed an “equal weight” rating and issued a $26.00 price target (up previously from $24.00) on shares of Dana in a report on Wednesday, August 2nd. Buckingham Research upped their price target on shares of Dana from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. UBS AG reaffirmed a “neutral” rating and issued a $24.00 price target (up previously from $20.00) on shares of Dana in a report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Dana from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $23.50.
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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