Gabelli Funds LLC lifted its holdings in shares of Dana Inc (NYSE:DAN) by 0.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,348,300 shares of the auto parts company’s stock after purchasing an additional 21,600 shares during the period. Gabelli Funds LLC owned 1.62% of Dana worth $43,843,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in DAN. BlackRock Inc. lifted its stake in shares of Dana by 12.1% during the second quarter. BlackRock Inc. now owns 18,788,509 shares of the auto parts company’s stock valued at $379,339,000 after acquiring an additional 2,022,490 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Dana by 286.8% during the second quarter. Renaissance Technologies LLC now owns 1,032,300 shares of the auto parts company’s stock valued at $20,842,000 after acquiring an additional 765,400 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Dana by 10.7% during the third quarter. Wedge Capital Management L L P NC now owns 6,404,004 shares of the auto parts company’s stock valued at $119,563,000 after acquiring an additional 616,595 shares during the period. LSV Asset Management lifted its stake in shares of Dana by 21.8% during the second quarter. LSV Asset Management now owns 2,303,746 shares of the auto parts company’s stock valued at $46,512,000 after acquiring an additional 411,821 shares during the period. Finally, Systematic Financial Management LP lifted its stake in shares of Dana by 36,524.9% during the second quarter. Systematic Financial Management LP now owns 329,624 shares of the auto parts company’s stock valued at $6,655,000 after acquiring an additional 328,724 shares during the period. Institutional investors own 93.11% of the company’s stock.
NYSE:DAN opened at $15.00 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.65 and a debt-to-equity ratio of 1.29. The stock has a market cap of $2.27 billion, a P/E ratio of 5.95, a PEG ratio of 1.72 and a beta of 1.88. Dana Inc has a 52-week low of $13.76 and a 52-week high of $35.27.
Dana (NYSE:DAN) last posted its quarterly earnings data on Monday, October 29th. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. Dana had a return on equity of 34.30% and a net margin of 2.79%. Dana’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. On average, research analysts predict that Dana Inc will post 2.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.67%. Dana’s payout ratio is presently 15.87%.
DAN has been the topic of several research reports. JPMorgan Chase & Co. raised Dana from a “neutral” rating to an “overweight” rating and set a $24.00 price target on the stock in a research note on Friday, October 19th. Bank of America lowered Dana from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Thursday, October 18th. Stephens reaffirmed a “hold” rating and set a $23.00 price target on shares of Dana in a research note on Wednesday, August 1st. Zacks Investment Research raised Dana from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, Wolfe Research raised Dana from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Dana presently has a consensus rating of “Hold” and an average target price of $25.80.
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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.
Further Reading: Return on Equity (ROE)
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