Russell Investments Group Ltd. Reduces Stock Position in Dana Incorporated (NYSE:DAN)

Russell Investments Group Ltd. lessened its holdings in Dana Incorporated (NYSE:DAN) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 991,575 shares of the auto parts company’s stock after selling 106,409 shares during the quarter. Russell Investments Group Ltd.’s holdings in Dana were worth $14,488,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in shares of Dana by 71.5% during the fourth quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company’s stock worth $519,000 after purchasing an additional 14,800 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Dana during the third quarter worth about $567,000. Strs Ohio grew its holdings in shares of Dana by 1.6% during the third quarter. Strs Ohio now owns 58,000 shares of the auto parts company’s stock worth $850,000 after purchasing an additional 900 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Dana by 93.6% during the third quarter. Great Lakes Advisors LLC now owns 66,513 shares of the auto parts company’s stock worth $976,000 after purchasing an additional 32,163 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Dana during the third quarter worth about $1,602,000. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Dana Stock Performance

Shares of DAN opened at $13.31 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.93 and a debt-to-equity ratio of 1.61. The stock has a market cap of $1.93 billion, a P/E ratio of 147.91, a PEG ratio of 0.50 and a beta of 2.46. The company has a 50-day moving average of $12.37 and a two-hundred day moving average of $12.98. Dana Incorporated has a 12-month low of $11.10 and a 12-month high of $19.75.

Dana (NYSE:DAN) last announced its earnings results on Tuesday, April 30th. The auto parts company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.69 billion. Dana had a return on equity of 5.42% and a net margin of 0.12%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, research analysts predict that Dana Incorporated will post 0.75 EPS for the current fiscal year.

Dana Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 10th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, May 9th. Dana’s dividend payout ratio is presently 444.49%.

Analysts Set New Price Targets

DAN has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on Dana from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 21st. Barclays reduced their price target on Dana from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. cut their price objective on Dana from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. Finally, Oppenheimer upped their price target on shares of Dana from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Dana presently has a consensus rating of “Hold” and an average price target of $16.67.

About Dana

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.