In a surprising turn of events, SG Americas Securities LLC has significantly reduced its holdings in Dana Incorporated during the first quarter of this year. According to its recent 13F filing with the Securities & Exchange Commission, SG Americas Securities LLC sold approximately 65.6% of its shares in Dana Incorporated, translating to a staggering 20,003 shares. As a result, the fund now only owns 10,489 shares of the auto parts company’s stock. This significant reduction in holdings has left industry analysts and investors curious about the reasons behind such a move.
At the end of the first quarter reporting period, SG Americas Securities LLC’s remaining stake in Dana Incorporated was reportedly worth $158,000. Although their motivation for selling remains uncertain, it is evident that they have made a notable departure from their previous investment strategy in relation to Dana Incorporated.
Various equities analysts have recently weighed in on Dana Incorporated as well. Notably, Wells Fargo & Company increased their price objective on Dana from $15.00 to $18.00 in their research report published on July 10th. Similarly, Royal Bank of Canada raised their target price from $16.00 to $19.00 and assigned a “sector perform” rating to the company on July 31st.
Barclays also provided insight into Dana Incorporated by increasing their target price from $19.00 to $21.00 alongside an “equal weight” rating on August 1st. Deutsche Bank Aktiengesellschaft followed suit by raising their target price from $15.00 to $16.00 in early May.
These positive ratings were complemented by StockNews.com’s upgrade of Dana Incorporated from a “hold” rating to a “buy” rating in their report released on August 2nd surely encouraging news for both new and existing investors alike.
Concurrently, three research analysts assigned a hold rating to the stock while two voiced a buy rating. It is important to note that these ratings collectively establish a consensus rating of “Hold” for Dana Incorporated. Moreover, the company currently holds a consensus price target of $19.00, as reported by Bloomberg.
On August 14, 2023, NYSE DAN opened at $16.45, indicating a relatively stable start to the trading day. Notably, the shares of Dana Incorporated have experienced a significant fluctuation in value over the past year. The stock’s fifty-two week low stands at $11.17 while its peak reached an impressive $19.75.
Financial factors also warrant consideration when analyzing Dana Incorporated’s market position. The company presently carries a debt-to-equity ratio of 1.54 and exhibits positive liquidity indicators with a quick ratio of 0.96 and a current ratio of 1.59.
With regard to recent performance trends, Dana Incorporated’s shares showcased a simple moving average of $17.17 for the past 50 days and $15.87 for the past two hundred days respectively.
Ultimately, Dana Incorporated holds a market capitalization worth approximately $2.37 billion while maintaining a P/E (price-to-earnings) ratio of -11.27 figures that may be seen as either promising opportunities or cautionary measures depending on one’s investment strategy.
Investors and analysts will continue to closely monitor the developments surrounding SG Americas Securities LLC’s decision to divest from Dana Incorporated and assess its impact on the company’s future prospects amidst evolving market conditions within the auto parts industry.
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Institutional Ownership Shifts, Executive Sales, Analyst Ratings, and Strong Quarterly Results Point to Growth Potential for Dana Incorporated
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”DAN” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Stocks of auto parts company Dana (NYSE: DAN) saw major changes in institutional ownership during the second quarter of this year. Captrust Financial Advisors increased their stake by an impressive 121.5%, now owning 5,502 shares valued at $77,000. The CIBC Private Wealth Group LLC and Teachers Retirement System of The State of Kentucky joined Captrust in adding to their positions in Dana, with holdings worth $257,000 and $335,000 respectively. Further investment came from Martingale Asset Management LP with a stake valued at $349,000. Despite these increases, 93.67% of the company’s stock is currently owned by institutional investors.
In terms of executive activity within the firm, EVP Aziz Aghili sold 30,000 shares on August 1st at an average price of $19.19 per share. The transaction resulted in a total value of $575,700. Following the sale, Aghili retains ownership of 14,975 shares valued at approximately $287,370.25.
Similarly, Chief Accounting Officer James D. Kellett also sold shares on August 1st – specifically 14,437 shares at an average price of $19.08 per share – resulting in a total value of $275,457.96. After this transaction Kellet maintains ownership over 6,279 shares valued at approximately $119,803.32.
Several equities analysts have voiced their opinions on Dana recently as well. Wells Fargo & Company increased their initial price objective from $15 to $18 and Royal Bank of Canada raised theirs from $16 to $19 while granting the company a “sector perform” rating.
Barclays upped their target price to span towards double-digit figures ($21), giving Dana an “equal weight” rating; Deutsche Bank Aktiengesellschaft similarly elevated it from an already modest target range ($15-$16).
Finally, StockNews.com upgraded the firm from “hold” to “buy” on August 2nd. With that, three analysts have given Dana a “hold” rating and two have assigned it a “buy”, while consensus estimates project a $19.00 price target.
Dana’s last quarterly earnings report, announced on July 28th, exceeded expectations. The company reported earnings per share of $0.37 for the quarter, surpassing the consensus estimate of $0.16 by a substantial margin of $0.21.
Dana also demonstrated a positive return on equity of 6.59% and an improved net margin of -1.99%. The company recorded $2.75 billion in revenue during the quarter against analysts’ projected figure of $2.71 billion, representing a 6.3% increase compared to the same period last year when EPS was at $0.08.
Analysts predict that Dana Incorporated will achieve earnings per share of 0.92 by the end of this year.
Lastly, Dana recently announced its plans to pay out a quarterly dividend on September 1st to shareholders on record as of August 11th.
This dividend amounts to $0.10 per share and produces an annualized payout ratio of -27.40% – an unusual result stemming from recently improved earnings performance.
In conclusion, institutional investors made noteworthy changes in their stakes during Q2 with Captrust Financial Advisors leading the pack in dramatic fashion.
Executive activity included notable stock sales by EVP Aziz Aghili and CAO James D Kellett.
Equities Analysts generally expressed optimism towards Dana with several institutions increasing their price targets for the company.
Dana’s latest quarterly results beat expectations across multiple metrics such as revenue and EPS growth.
Lastly, the company declared payment of a dividend for current shareholders signaling financial confidence within the firm.
Moving forward, these developments highlight potential growth for Dana in the near future.
