William Blair Investment Management LLC lifted its stake in Dana Inc (NYSE:DAN) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 870,456 shares of the auto parts company’s stock after acquiring an additional 99,840 shares during the quarter. William Blair Investment Management LLC owned 0.60% of Dana worth $16,251,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. lifted its holdings in shares of Dana by 54.8% in the 2nd quarter. Macquarie Group Ltd. now owns 9,600 shares of the auto parts company’s stock worth $194,000 after acquiring an additional 3,400 shares during the last quarter. Global X Management Co LLC acquired a new position in shares of Dana in the 2nd quarter worth approximately $220,000. Signition LP acquired a new position in shares of Dana in the 3rd quarter worth approximately $227,000. Nomura Holdings Inc. acquired a new position in shares of Dana in the 2nd quarter worth approximately $262,000. Finally, PEAK6 Investments L.P. lifted its holdings in shares of Dana by 157.0% in the 2nd quarter. PEAK6 Investments L.P. now owns 13,866 shares of the auto parts company’s stock worth $280,000 after acquiring an additional 38,182 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.
Several brokerages have recently commented on DAN. Zacks Investment Research upgraded shares of Dana from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Wolfe Research upgraded shares of Dana from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 31st. TheStreet lowered shares of 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 objective on shares of Dana in a report on Monday, October 29th. Finally, JPMorgan Chase & Co. upgraded shares of Dana from a “neutral” rating to an “overweight” rating and set a $24.00 price objective on the stock in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.33.
Shares of DAN opened at $14.20 on Wednesday. Dana Inc has a fifty-two week low of $13.75 and a fifty-two week high of $35.27. The company has a market cap of $2.10 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.87. The company has a current ratio of 1.65, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29.
Dana (NYSE:DAN) last announced its earnings results on Monday, October 29th. The auto parts company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Dana had a net margin of 2.79% and a return on equity of 34.30%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts forecast that Dana Inc will post 2.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, November 8th. Dana’s payout ratio is currently 15.87%.
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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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