California Public Employees Retirement System Boosts Stock Holdings in Dana Incorporated (NYSE:DAN)


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California Public Employees Retirement System grew its position in Dana Incorporated (NYSE:DAN) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,124 shares of the auto parts company’s stock after purchasing an additional 5,673 shares during the period. California Public Employees Retirement System’s holdings in Dana were worth $6,776,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Crescent Capital Consulting LLC acquired a new position in shares of Dana during the fourth quarter worth about $58,000. Guinness Atkinson Asset Management Inc grew its position in shares of Dana by 54.9% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 4,880 shares of the auto parts company’s stock worth $60,000 after acquiring an additional 1,730 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Dana by 122.5% in the third quarter. Nisa Investment Advisors LLC now owns 6,720 shares of the auto parts company’s stock worth $83,000 after purchasing an additional 3,700 shares during the period. Meeder Asset Management Inc. grew its position in shares of Dana by 10.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,830 shares of the auto parts company’s stock valued at $122,000 after buying an additional 965 shares during the last quarter. Finally, LPL Financial LLC bought a new position in Dana in the third quarter worth about $127,000. 94.29% of the stock is currently owned by hedge funds and other institutional investors.

DAN has been the subject of a number of analyst reports. KeyCorp boosted their price objective on Dana from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 25th. Bank of America cut shares of Dana from a “buy” rating to a “neutral” rating in a report on Monday, January 11th. Zacks Investment Research raised Dana from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, December 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Dana from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays increased their price objective on Dana from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.00.

In other Dana news, insider Robert D. Pyle sold 33,535 shares of the company’s stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $17.57, for a total transaction of $589,209.95. Following the transaction, the insider now directly owns 57,070 shares in the company, valued at approximately $1,002,719.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Shares of Dana stock opened at $23.31 on Tuesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.96 and a quick ratio of 1.37. The company has a market cap of $3.37 billion, a PE ratio of -466.11, a price-to-earnings-growth ratio of 1.36 and a beta of 2.60. The firm has a fifty day moving average price of $21.45 and a two-hundred day moving average price of $17.04. Dana Incorporated has a fifty-two week low of $4.22 and a fifty-two week high of $23.72.

Dana (NYSE:DAN) last posted its earnings results on Wednesday, February 17th. The auto parts company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.12). Dana had a negative net margin of 0.09% and a positive return on equity of 6.48%. Analysts expect that Dana Incorporated will post 0.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, March 4th.

Dana Profile

Dana Incorporated provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. It offers sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer. The company operates in four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.

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Institutional Ownership by Quarter for Dana (NYSE:DAN)

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