Highbridge Capital Management LLC purchased a new stake in Dana Inc (NYSE:DAN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 125,751 shares of the auto parts company’s stock, valued at approximately $3,239,000. Highbridge Capital Management LLC owned about 0.09% of Dana at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Dana by 7.0% in the 1st quarter. BlackRock Inc. now owns 16,766,019 shares of the auto parts company’s stock valued at $431,892,000 after acquiring an additional 1,090,535 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Dana by 19.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,722,951 shares of the auto parts company’s stock valued at $151,182,000 after acquiring an additional 771,233 shares during the last quarter. LSV Asset Management increased its stake in shares of Dana by 15.1% in the 1st quarter. LSV Asset Management now owns 1,891,925 shares of the auto parts company’s stock valued at $48,735,000 after acquiring an additional 247,910 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Dana by 55.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,347,408 shares of the auto parts company’s stock valued at $34,710,000 after acquiring an additional 482,751 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Dana by 7.8% in the 1st quarter. Nuveen Asset Management LLC now owns 1,213,141 shares of the auto parts company’s stock valued at $31,251,000 after acquiring an additional 88,163 shares during the last quarter. 95.25% of the stock is owned by institutional investors.
In related news, Director Virginia A. Kamsky sold 13,642 shares of Dana stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $22.30, for a total transaction of $304,216.60. Following the sale, the director now directly owns 32,549 shares in the company, valued at approximately $725,842.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jonathan Mark Collins sold 22,000 shares of Dana stock in a transaction on Friday, May 4th. The stock was sold at an average price of $23.51, for a total transaction of $517,220.00. Following the sale, the chief financial officer now owns 28,703 shares in the company, valued at $674,807.53. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Shares of Dana opened at $21.68 on Thursday, according to MarketBeat.com. The company has a market capitalization of $3.16 billion, a P/E ratio of 8.60 and a beta of 1.75. Dana Inc has a 52-week low of $20.93 and a 52-week high of $35.27. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.70 and a quick ratio of 1.15.
Dana (NYSE:DAN) last released its quarterly earnings data on Monday, April 30th. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Dana had a net margin of 1.88% and a return on equity of 31.99%. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. equities analysts forecast that Dana Inc will post 2.95 EPS for the current year.
Dana announced that its Board of Directors has approved a stock buyback program on Monday, March 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 11th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, May 10th. This represents a $0.40 annualized dividend and a yield of 1.85%. Dana’s dividend payout ratio is currently 15.87%.
A number of analysts have recently commented on DAN shares. ValuEngine cut Dana from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research cut Dana from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Bank of America started coverage on Dana in a research note on Friday, June 1st. They issued a “buy” rating and a $28.00 price target for the company. TheStreet raised Dana from a “c” rating to a “b-” rating in a research note on Monday, April 30th. Finally, Susquehanna Bancshares set a $30.00 price objective on Dana and gave the company a “hold” rating in a research report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $29.25.
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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