OLD Mutual Customised Solutions Proprietary Ltd. held its stake in Dana Incorporated (NYSE:DAN) during the first quarter, Holdings Channel reports. The institutional investor owned 5,700 shares of the auto parts company’s stock at the end of the first quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Dana were worth $110,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. FMR LLC acquired a new stake in Dana during the fourth quarter worth $2,401,000. Teachers Advisors LLC raised its stake in Dana by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 244,585 shares of the auto parts company’s stock worth $4,642,000 after buying an additional 5,623 shares during the period. American International Group Inc. raised its stake in Dana by 4.3% in the first quarter. American International Group Inc. now owns 374,437 shares of the auto parts company’s stock worth $7,230,000 after buying an additional 15,381 shares during the period. Koch Industries Inc. acquired a new stake in Dana during the first quarter worth $237,000. Finally, DnB Asset Management AS raised its stake in Dana by 1.1% in the first quarter. DnB Asset Management AS now owns 2,988,315 shares of the auto parts company’s stock worth $57,704,000 after buying an additional 31,489 shares during the period. 97.37% of the stock is owned by institutional investors.
Dana Incorporated (NYSE:DAN) opened at 22.73 on Monday. The company has a market capitalization of $3.29 billion, a P/E ratio of 4.95 and a beta of 1.49. The firm has a 50-day moving average of $21.23 and a 200-day moving average of $19.75. Dana Incorporated has a one year low of $10.54 and a one year high of $22.98.
Dana (NYSE:DAN) last posted its earnings results on Tuesday, May 2nd. The auto parts company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.25. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Dana had a return on equity of 31.55% and a net margin of 11.02%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, analysts anticipate that Dana Incorporated will post $1.95 earnings per share for the current year.
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DAN has been the subject of a number of research reports. Zacks Investment Research raised shares of Dana from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. BidaskClub raised shares of Dana from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Dana in a research note on Wednesday, May 3rd. Guggenheim initiated coverage on shares of Dana in a research note on Wednesday, June 21st. They issued a “buy” rating and a $27.00 price objective for the company. Finally, CLSA initiated coverage on shares of Dana in a research note on Thursday, June 22nd. They issued a “buy” rating and a $27.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $22.57.
In other news, insider Dwayne Matthews sold 6,667 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $20.13, for a total value of $134,206.71. Following the transaction, the insider now owns 49,422 shares of the company’s stock, valued at $994,864.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rodney R. Filcek sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $20.35, for a total value of $203,500.00. Following the completion of the transaction, the senior vice president now directly owns 36,481 shares in the company, valued at approximately $742,388.35. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
Dana Company Profile
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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