Rhumbline Advisers Boosts Stake in Dana Incorporated (NYSE:DAN)

Rhumbline Advisers raised its position in Dana Incorporated (NYSE:DAN) by 1.3% during the second quarter, Holdings Channel.com reports. The firm owned 426,586 shares of the auto parts company’s stock after buying an additional 5,468 shares during the period. Rhumbline Advisers’ holdings in Dana were worth $5,170,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Dana during the 2nd quarter worth about $388,000. Cibc World Markets Corp increased its position in Dana by 46.0% during the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after purchasing an additional 375,000 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its holdings in Dana by 89.5% in the fourth quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock valued at $1,841,000 after acquiring an additional 59,502 shares during the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

Dana Stock Up 5.5 %

Shares of Dana stock opened at $9.85 on Monday. The business has a 50-day moving average price of $11.12 and a 200 day moving average price of $12.19. Dana Incorporated has a fifty-two week low of $9.16 and a fifty-two week high of $15.45. The firm has a market cap of $1.43 billion, a P/E ratio of 109.44, a P/E/G ratio of 0.49 and a beta of 2.29. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55.

Dana (NYSE:DAN) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts forecast that Dana Incorporated will post 0.98 earnings per share for the current fiscal year.

Dana Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Friday, August 9th. Dana’s dividend payout ratio (DPR) is 444.44%.

Wall Street Analysts Forecast Growth

DAN has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Dana from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Wolfe Research began coverage on Dana in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. UBS Group decreased their target price on shares of Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $12.00 price target on shares of Dana in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company upped their price objective on shares of Dana from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.67.

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.