New Mexico Educational Retirement Board acquired a new position in shares of Dana Inc (NYSE:DAN) during the fourth quarter, Holdings Channel reports. The fund acquired 35,800 shares of the auto parts company’s stock, valued at approximately $1,146,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Dana in the third quarter valued at about $3,942,000. Fox Run Management L.L.C. purchased a new stake in shares of Dana in the third quarter valued at about $1,040,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Dana in the third quarter valued at about $524,000. Frontier Capital Management Co. LLC lifted its holdings in shares of Dana by 24.9% in the third quarter. Frontier Capital Management Co. LLC now owns 3,592,845 shares of the auto parts company’s stock valued at $100,456,000 after purchasing an additional 717,152 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Dana in the third quarter valued at about $301,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on DAN shares. FBR & Co reissued a “neutral” rating and issued a $25.00 price objective (up previously from $17.00) on shares of Dana in a research report on Friday, October 27th. Buckingham Research boosted their price objective on shares of Dana from $25.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Barclays upped their price target on shares of Dana from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Dana in a research report on Friday, October 27th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Dana in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $29.55.
Shares of Dana Inc (DAN) opened at $27.89 on Friday. Dana Inc has a 52-week low of $17.53 and a 52-week high of $35.27. The stock has a market cap of $4,061.57, a price-to-earnings ratio of 39.84 and a beta of 1.66. The company has a quick ratio of 1.12, a current ratio of 1.69 and a debt-to-equity ratio of 1.58.
Dana (NYSE:DAN) last released its quarterly earnings data on Tuesday, February 13th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.09. Dana had a net margin of 1.54% and a return on equity of 30.70%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. research analysts forecast that Dana Inc will post 2.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 1st. This is an increase from Dana’s previous quarterly dividend of $0.06. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. Dana’s dividend payout ratio is 34.29%.
Dana declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, Director Virginia A. Kamsky sold 7,323 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $32.14, for a total value of $235,361.22. Following the completion of the transaction, the director now directly owns 35,448 shares in the company, valued at $1,139,298.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aziz Aghili sold 12,624 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.12, for a total transaction of $418,106.88. Following the completion of the transaction, the insider now owns 18,024 shares of the company’s stock, valued at $596,954.88. The disclosure for this sale can be found here. Insiders sold 93,530 shares of company stock valued at $3,105,963 over the last 90 days. Insiders own 1.60% of the company’s stock.
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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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