GAMMA Investing LLC Purchases 40,394 Shares of Dana Incorporated (NYSE:DAN)

GAMMA Investing LLC grew its position in Dana Incorporated (NYSE:DAN - Free Report) by 1,495.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 43,096 shares of the auto parts company's stock after acquiring an additional 40,394 shares during the period. GAMMA Investing LLC's holdings in Dana were worth $574,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of DAN. Sterling Capital Management LLC boosted its position in Dana by 829.3% during the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company's stock worth $48,000 after buying an additional 3,732 shares during the period. State of Tennessee Department of Treasury raised its stake in shares of Dana by 6.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company's stock valued at $627,000 after acquiring an additional 3,368 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Dana by 6.1% during the fourth quarter. MetLife Investment Management LLC now owns 79,026 shares of the auto parts company's stock worth $914,000 after purchasing an additional 4,531 shares during the period. Great Lakes Advisors LLC grew its stake in shares of Dana by 103.6% in the fourth quarter. Great Lakes Advisors LLC now owns 280,798 shares of the auto parts company's stock worth $3,246,000 after purchasing an additional 142,850 shares during the last quarter. Finally, Cibc World Markets Corp grew its stake in shares of Dana by 1.8% in the fourth quarter. Cibc World Markets Corp now owns 687,220 shares of the auto parts company's stock worth $7,944,000 after purchasing an additional 12,220 shares during the last quarter. Institutional investors and hedge funds own 96.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on DAN. Barclays reaffirmed an "overweight" rating and set a $25.00 target price (up from $20.00) on shares of Dana in a report on Thursday, June 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $24.00 price objective (up from $20.00) on shares of Dana in a research note on Thursday, June 12th. Wall Street Zen upgraded Dana from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. UBS Group reissued a "buy" rating and set a $22.00 target price (up previously from $20.00) on shares of Dana in a research report on Friday, June 13th. Finally, Wells Fargo & Company restated a "buy" rating on shares of Dana in a research report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.43.

Dana Trading Down 1.8%

NYSE DAN traded down $0.32 during trading hours on Friday, hitting $17.05. 399,608 shares of the company's stock were exchanged, compared to its average volume of 1,734,522. Dana Incorporated has a 1-year low of $7.58 and a 1-year high of $18.03. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 1.68. The stock has a 50-day simple moving average of $15.15 and a 200 day simple moving average of $14.10. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -71.00, a PEG ratio of 1.11 and a beta of 2.11.

Dana (NYSE:DAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The auto parts company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). Dana had a positive return on equity of 7.96% and a negative net margin of 0.35%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the business earned $0.02 EPS. The business's quarterly revenue was down 14.0% compared to the same quarter last year. On average, equities analysts forecast that Dana Incorporated will post 1.5 EPS for the current fiscal year.

Dana Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, May 31st. Stockholders of record on Saturday, May 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.35%. Dana's dividend payout ratio is currently -166.67%.

About Dana

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.