Verition Fund Management LLC lessened its holdings in shares of Dana Incorporated (NYSE:DAN) by 15.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,213 shares of the auto parts company’s stock after selling 5,387 shares during the quarter. Verition Fund Management LLC’s holdings in Dana were worth $675,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dana by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock worth $113,000 after buying an additional 520 shares during the last quarter. US Bancorp DE increased its position in Dana by 15.0% during the first quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock worth $183,000 after buying an additional 1,233 shares during the last quarter. ETRADE Capital Management LLC acquired a new position in Dana during the second quarter worth approximately $205,000. Shelton Capital Management acquired a new position in Dana during the first quarter worth approximately $210,000. Finally, Riverhead Capital Management LLC increased its position in Dana by 70.4% during the second quarter. Riverhead Capital Management LLC now owns 10,056 shares of the auto parts company’s stock worth $225,000 after buying an additional 4,156 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
Dana Incorporated (NYSE:DAN) traded up 0.03% during trading on Tuesday, hitting $29.02. The stock had a trading volume of 122,579 shares. The firm has a 50 day moving average price of $26.45 and a 200-day moving average price of $22.69. The firm has a market capitalization of $4.20 billion, a PE ratio of 6.15 and a beta of 1.56. Dana Incorporated has a 1-year low of $13.93 and a 1-year high of $29.16.
Dana (NYSE:DAN) last issued its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.17. Dana had a net margin of 10.80% and a return on equity of 30.79%. The company had revenue of $18.40 million during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $0.53 EPS. Dana’s quarterly revenue was down 98.8% compared to the same quarter last year. On average, equities research analysts expect that Dana Incorporated will post $2.33 EPS for the current year.
A number of equities analysts have weighed in on the company. Royal Bank Of Canada reissued a “buy” rating and set a $27.00 price target on shares of Dana in a research report on Thursday, October 5th. BidaskClub downgraded Dana from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Barclays PLC reissued an “equal weight” rating and set a $26.00 price target (up previously from $24.00) on shares of Dana in a research report on Wednesday, August 2nd. Buckingham Research boosted their price target on Dana from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Finally, UBS AG reissued a “neutral” rating and set a $24.00 price target (up previously from $20.00) on shares of Dana in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $23.80.
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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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