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

Posted by Defense World Staff on May 13th, 2023

Russell Investments Group Ltd. lessened its holdings in Dana Incorporated (NYSE:DAN – Get Rating) by 30.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 605,509 shares of the auto parts company’s stock after selling 266,540 shares during the period. Russell Investments Group Ltd. owned about 0.42% of Dana worth $9,162,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DAN. Bessemer Group Inc. increased its stake in shares of Dana by 478.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,578 shares of the auto parts company’s stock valued at $29,000 after purchasing an additional 2,132 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Dana by 121.5% in the 2nd quarter. Captrust Financial Advisors now owns 5,502 shares of the auto parts company’s stock valued at $77,000 after purchasing an additional 3,018 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Dana in the 3rd quarter valued at about $335,000. SG Americas Securities LLC purchased a new position in shares of Dana in the 4th quarter valued at about $461,000. Finally, Yousif Capital Management LLC increased its stake in shares of Dana by 2.9% in the 1st quarter. Yousif Capital Management LLC now owns 82,651 shares of the auto parts company’s stock valued at $1,452,000 after purchasing an additional 2,303 shares in the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.

Dana Stock Down 1.8 %

DAN opened at $13.50 on Friday. The business’s 50-day simple moving average is $14.38 and its 200-day simple moving average is $16.00. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.87 and a current ratio of 1.47. Dana Incorporated has a one year low of $11.17 and a one year high of $19.30. The stock has a market capitalization of $1.95 billion, a P/E ratio of -8.39 and a beta of 2.37.

Dana (NYSE:DAN – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The auto parts company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.11. Dana had a positive return on equity of 3.92% and a negative net margin of 2.24%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts anticipate that Dana Incorporated will post 0.69 EPS for the current year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, May 11th. Dana’s payout ratio is currently -24.84%.

Analyst Ratings Changes

A number of brokerages have commented on DAN. Deutsche Bank Aktiengesellschaft increased their target price on Dana from $15.00 to $16.00 in a report on Monday, May 1st. StockNews.com raised Dana from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Barclays cut their price target on Dana from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, April 17th. Finally, Wells Fargo & Company cut their price target on Dana from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, April 10th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Dana has an average rating of “Hold” and a consensus target price of $15.75.

Dana Company Profile

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Dana, Inc engages in the manufacture, distribution, and sale of technology drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products. It operates through the following segments: Light Vehicle, Commercial Vehicle, Off-Highway, and Power Technologies. The Light Vehicle segment includes drivetrain systems and components for passenger cars, crossovers, sport utility vehicles, vans, and light trucks.