Dana Incorporated (NYSE:DAN) Stake Lowered by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in Dana Incorporated (NYSE:DAN) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,486 shares of the auto parts company’s stock after selling 5,419 shares during the quarter. Rhumbline Advisers owned 0.28% of Dana worth $4,676,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC bought a new position in shares of Dana during the 3rd quarter worth approximately $2,687,000. JB Capital Partners LP raised its holdings in Dana by 9.9% during the third quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock worth $14,880,000 after acquiring an additional 128,000 shares in the last quarter. Martingale Asset Management L P bought a new position in Dana during the third quarter worth about $346,000. Entropy Technologies LP acquired a new stake in Dana during the 3rd quarter worth approximately $250,000. Finally, Versant Capital Management Inc boosted its holdings in Dana by 484.6% in the 4th quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 2,234 shares during the period. 96.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised Dana from a “hold” rating to a “buy” rating and boosted their target price for the stock from $9.00 to $19.00 in a research note on Monday, December 9th. Wells Fargo & Company raised shares of Dana from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $10.00 to $16.00 in a research report on Monday, January 27th. Royal Bank of Canada lifted their price objective on shares of Dana from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday, February 21st. UBS Group boosted their target price on Dana from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, StockNews.com raised Dana from a “hold” rating to a “buy” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.50.

Dana Price Performance

Shares of NYSE:DAN opened at $14.98 on Friday. Dana Incorporated has a 12 month low of $7.58 and a 12 month high of $16.90. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -38.40, a price-to-earnings-growth ratio of 0.72 and a beta of 2.33. The business’s 50 day simple moving average is $13.91 and its 200-day simple moving average is $11.57. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.45 and a quick ratio of 0.86.

Dana (NYSE:DAN) last released its quarterly earnings results on Thursday, February 20th. The auto parts company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.15. Dana had a negative net margin of 0.55% and a positive return on equity of 6.70%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.33 billion. As a group, equities analysts forecast that Dana Incorporated will post 1.5 earnings per share for the current fiscal year.

Dana Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.67%. Dana’s dividend payout ratio is presently -102.56%.

Dana Company Profile

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.