Millennium Management LLC Has $35.30 Million Holdings in Dana Inc (DAN)

Millennium Management LLC raised its position in shares of Dana Inc (NYSE:DAN) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,748,123 shares of the auto parts company’s stock after purchasing an additional 27,020 shares during the quarter. Millennium Management LLC owned 1.21% of Dana worth $35,295,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DAN. BlackRock Inc. lifted its holdings in Dana by 12.1% during the second quarter. BlackRock Inc. now owns 18,788,509 shares of the auto parts company’s stock valued at $379,339,000 after purchasing an additional 2,022,490 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Dana by 286.8% during the second quarter. Renaissance Technologies LLC now owns 1,032,300 shares of the auto parts company’s stock valued at $20,842,000 after purchasing an additional 765,400 shares in the last quarter. LSV Asset Management lifted its holdings in Dana by 21.8% during the second quarter. LSV Asset Management now owns 2,303,746 shares of the auto parts company’s stock valued at $46,512,000 after purchasing an additional 411,821 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Dana by 36,524.9% during the second quarter. Systematic Financial Management LP now owns 329,624 shares of the auto parts company’s stock valued at $6,655,000 after buying an additional 328,724 shares during the last quarter. Finally, BlueMountain Capital Management LLC raised its position in shares of Dana by 575.6% during the second quarter. BlueMountain Capital Management LLC now owns 371,774 shares of the auto parts company’s stock valued at $7,506,000 after buying an additional 316,747 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of DAN opened at $20.42 on Monday. Dana Inc has a fifty-two week low of $18.08 and a fifty-two week high of $35.27. The firm has a market capitalization of $2.95 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 5.46 and a beta of 1.71. The company has a current ratio of 1.63, a quick ratio of 1.05 and a debt-to-equity ratio of 1.41.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, July 25th. The auto parts company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.04). Dana had a return on equity of 32.56% and a net margin of 2.51%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 11063.0% on a year-over-year basis. analysts anticipate that Dana Inc will post 2.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, August 9th. Dana’s dividend payout ratio (DPR) is 15.87%.

Several research firms have recently issued reports on DAN. Zacks Investment Research upgraded shares of Dana from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Stephens reiterated a “hold” rating and set a $23.00 price objective on shares of Dana in a research report on Wednesday, August 1st. Buckingham Research reduced their price objective on shares of Dana from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, July 26th. Barclays upgraded shares of Dana from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research report on Thursday, July 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $30.00 price objective on shares of Dana in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. Dana presently has a consensus rating of “Hold” and a consensus price target of $27.67.

About Dana

Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.

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Institutional Ownership by Quarter for Dana (NYSE:DAN)

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