Ontario Teachers Pension Plan Board Cuts Stock Position in Dana Incorporated (NYSE:DAN)

Ontario Teachers Pension Plan Board cut its holdings in Dana Incorporated (NYSE:DAN) by 78.8% in the fourth quarter, HoldingsChannel reports. The firm owned 22,914 shares of the auto parts company’s stock after selling 85,403 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Dana were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DAN. Handelsbanken Fonder AB boosted its stake in 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 buying an additional 14,800 shares during the period. Great Lakes Advisors LLC boosted its stake in 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 buying an additional 32,163 shares during the period. Neo Ivy Capital Management purchased a new position in Dana during the third quarter worth $1,602,000. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in shares of Dana by 164.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 284,582 shares of the auto parts company’s stock valued at $4,158,000 after purchasing an additional 176,778 shares during the period. 96.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DAN shares. Oppenheimer boosted their target price on shares of Dana from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their target price on shares of Dana from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lowered their target price on shares of Dana from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Finally, Barclays decreased their price objective on Dana from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.67.

Dana Stock Performance

Shares of Dana stock opened at $14.00 on Monday. The company has a market capitalization of $2.03 billion, a PE ratio of 155.57, a P/E/G ratio of 0.43 and a beta of 2.46. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.97 and a current ratio of 1.60. The company has a 50-day simple moving average of $12.83 and a two-hundred day simple moving average of $13.15. Dana Incorporated has a one year low of $11.10 and a one year high of $19.75.

Dana (NYSE:DAN) last announced its earnings results on Tuesday, April 30th. The auto parts company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. Dana had a return on equity of 5.42% and a net margin of 0.12%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Research analysts expect that Dana Incorporated will post 0.91 EPS for the current fiscal year.

Dana Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 10th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.40 dividend on an annualized basis and a yield of 2.86%. Dana’s dividend payout ratio is presently 444.49%.

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.