Systematic Financial Management LP Decreases Stake in Dana Incorporated (NYSE:DAN)

Systematic Financial Management LP reduced its position in Dana Incorporated (NYSE:DAN) by 12.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 428,424 shares of the auto parts company’s stock after selling 63,394 shares during the period. Systematic Financial Management LP owned approximately 0.30% of Dana worth $5,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAN. Cibc World Markets Corp lifted its position in shares of 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. Rhumbline Advisers lifted its position in shares of Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after purchasing an additional 5,468 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Dana during the second quarter worth about $388,000. 96.79% of the stock is owned by hedge funds and other institutional investors.

Dana Price Performance

Shares of NYSE:DAN opened at $10.92 on Monday. The firm’s 50 day moving average is $10.79 and its two-hundred day moving average is $12.05. Dana Incorporated has a 52 week low of $9.16 and a 52 week high of $15.07. The firm has a market capitalization of $1.58 billion, a P/E ratio of 121.33, a PEG ratio of 0.53 and a beta of 2.29. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the business earned $0.37 earnings per share. Dana’s revenue was down .4% compared to the same quarter last year. Analysts anticipate that Dana Incorporated will post 0.98 earnings per share for the current year.

Dana Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.66%. Dana’s dividend payout ratio is presently 444.44%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DAN. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Barclays raised their target price on shares of Dana from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Dana from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $12.00 target price on shares of Dana in a report on Tuesday, September 10th. Finally, Wells Fargo & Company cut shares of Dana from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $13.00 to $9.00 in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Dana 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.