BlackRock Inc. grew its holdings in Dana Inc (NYSE:DAN) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,675,484 shares of the auto parts company’s stock after buying an additional 626,094 shares during the quarter. BlackRock Inc. owned 0.11% of Dana worth $501,773,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Dana during the 4th quarter worth about $204,000. KBC Group NV increased its position in shares of Dana by 107.9% during the 4th quarter. KBC Group NV now owns 6,707 shares of the auto parts company’s stock worth $215,000 after purchasing an additional 3,481 shares in the last quarter. CAPROCK Group Inc. acquired a new stake in shares of Dana during the 4th quarter worth about $249,000. Boothbay Fund Management LLC acquired a new stake in shares of Dana during the 3rd quarter worth about $204,000. Finally, First Allied Advisory Services Inc. acquired a new stake in shares of Dana during the 3rd quarter worth about $206,000. Institutional investors own 94.34% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Guggenheim reiterated a “buy” rating and set a $40.00 target price on shares of Dana in a research report on Wednesday, January 10th. Barclays reiterated a “hold” rating and set a $32.00 target price on shares of Dana in a research report on Tuesday, January 9th. ValuEngine cut shares of Dana from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Deutsche Bank increased their target price on shares of Dana from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, November 17th. Finally, B. Riley reiterated a “neutral” rating on shares of Dana in a research report on Wednesday, November 1st. One investment 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. The stock has a consensus rating of “Hold” and a consensus price target of $29.55.
Dana (NYSE:DAN) last issued its quarterly earnings data on Tuesday, February 13th. The auto parts company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.09. Dana had a net margin of 1.54% and a return on equity of 30.70%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The company’s revenue was up 27.0% on a year-over-year basis. equities analysts forecast that Dana Inc will post 2.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 2nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.51%. This is a positive change from Dana’s previous quarterly dividend of $0.06. Dana’s dividend payout ratio is currently 33.33%.
Dana declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 17th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other Dana news, EVP Mark E. Wallace sold 40,339 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $33.42, for a total transaction of $1,348,129.38. Following the sale, the executive vice president now owns 108,139 shares of the company’s stock, valued at approximately $3,614,005.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Virginia A. Kamsky sold 7,323 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $32.14, for a total transaction of $235,361.22. Following the sale, the director now directly owns 35,448 shares in the company, valued at approximately $1,139,298.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,530 shares of company stock worth $3,105,963. 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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