Martingale Asset Management L P Buys New Stake in Dana Incorporated (NYSE:DAN)

Martingale Asset Management L P purchased a new stake in shares of Dana Incorporated (NYSE:DAN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 32,800 shares of the auto parts company’s stock, valued at approximately $346,000.

Other institutional investors have also bought and sold shares of the company. Entropy Technologies LP bought a new stake in shares of Dana in the 3rd quarter worth about $250,000. SG Americas Securities LLC purchased a new position in Dana in the second quarter worth about $388,000. Segall Bryant & Hamill LLC bought a new stake in Dana during the third quarter worth approximately $2,687,000. Rhumbline Advisers increased its stake in 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 acquiring an additional 5,468 shares during the last quarter. Finally, JB Capital Partners LP raised its position in Dana by 9.9% during the third quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock valued at $14,880,000 after purchasing an additional 128,000 shares during the period. Institutional investors own 96.79% of the company’s stock.

Dana Stock Performance

Shares of NYSE:DAN opened at $12.10 on Wednesday. The firm’s 50 day simple moving average is $9.74 and its 200-day simple moving average is $11.06. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.86 and a current ratio of 1.49. Dana Incorporated has a one year low of $7.58 and a one year high of $15.07. The firm has a market cap of $1.75 billion, a PE ratio of -109.99, a price-to-earnings-growth ratio of 1.10 and a beta of 2.36.

Dana (NYSE:DAN) last issued its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, equities analysts predict that Dana Incorporated will post 0.85 EPS for the current year.

Dana Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 8th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, November 8th. Dana’s dividend payout ratio (DPR) is -363.60%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Dana from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Barclays upgraded shares of Dana from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $12.00 to $18.00 in a research report on Monday. BNP Paribas upgraded shares of Dana from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $9.00 to $16.00 in a report on Tuesday. Wells Fargo & Company dropped their price target on shares of Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, October 31st. Finally, Wolfe Research initiated coverage on shares of Dana in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dana presently has a consensus rating of “Hold” and a consensus price target of $13.86.

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.