Teachers Retirement System of The State of Kentucky trimmed its holdings in Dana Inc (NYSE:DAN) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,716 shares of the auto parts company’s stock after selling 3,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Dana were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Arizona State Retirement System grew its stake in Dana by 2.8% in the second quarter. Arizona State Retirement System now owns 101,001 shares of the auto parts company’s stock valued at $2,039,000 after acquiring an additional 2,726 shares during the period. Engineers Gate Manager LP grew its stake in Dana by 2.0% in the second quarter. Engineers Gate Manager LP now owns 153,988 shares of the auto parts company’s stock valued at $3,109,000 after acquiring an additional 3,090 shares during the period. Macquarie Group Ltd. grew its stake in Dana by 54.8% in the second quarter. Macquarie Group Ltd. now owns 9,600 shares of the auto parts company’s stock valued at $194,000 after acquiring an additional 3,400 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Dana by 8.8% in the second quarter. Alps Advisors Inc. now owns 48,011 shares of the auto parts company’s stock valued at $969,000 after purchasing an additional 3,901 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Dana by 4.6% in the third quarter. Creative Planning now owns 110,120 shares of the auto parts company’s stock valued at $2,056,000 after purchasing an additional 4,799 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Dana from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Wolfe Research assumed coverage on Dana in a report on Tuesday, October 2nd. They issued a “peer perform” rating on the stock. TheStreet lowered Dana from a “b-” rating to a “c” rating in a report on Monday, October 29th. Royal Bank of Canada restated a “buy” rating and issued a $21.00 price target on shares of Dana in a report on Monday, October 29th. Finally, JPMorgan Chase & Co. upgraded Dana from a “neutral” rating to an “overweight” rating and set a $24.00 price target on the stock in a report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.33.
Dana (NYSE:DAN) last released its earnings results on Monday, October 29th. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Dana had a return on equity of 34.30% and a net margin of 2.79%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. Dana’s revenue was up 8.0% on a year-over-year basis. Analysts predict that Dana Inc will post 2.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 9th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, November 8th. This represents a $0.40 annualized dividend and a yield of 2.92%. Dana’s payout ratio is presently 15.87%.
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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.
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