Nordea Investment Management AB grew its stake in shares of Dana Inc (NYSE:DAN) by 242.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,105 shares of the auto parts company’s stock after purchasing an additional 155,200 shares during the quarter. Nordea Investment Management AB owned approximately 0.15% of Dana worth $3,887,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of DAN. JOYN Advisors Inc. increased its stake in shares of Dana by 683.1% in the 4th quarter. JOYN Advisors Inc. now owns 2,459 shares of the auto parts company’s stock worth $34,000 after acquiring an additional 2,145 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in shares of Dana during the 1st quarter worth $145,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Dana by 9.0% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 11,313 shares of the auto parts company’s stock worth $154,000 after purchasing an additional 938 shares during the period. Magnus Financial Group LLC purchased a new position in shares of Dana during the 4th quarter worth $165,000. Finally, Oakbrook Investments LLC purchased a new position in shares of Dana during the 1st quarter worth $177,000. 94.21% of the stock is owned by hedge funds and other institutional investors.
DAN traded down $0.02 during trading on Thursday, hitting $18.35. 1,273,900 shares of the stock were exchanged, compared to its average volume of 1,776,093. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 6.18, a P/E/G ratio of 1.57 and a beta of 2.19. Dana Inc has a 1-year low of $12.65 and a 1-year high of $21.79. The company’s fifty day simple moving average is $17.61. The company has a quick ratio of 1.02, a current ratio of 1.63 and a debt-to-equity ratio of 1.67.
A number of equities analysts have recently weighed in on DAN shares. Credit Suisse Group initiated coverage on Magna International in a report on Wednesday, June 26th. They set a “neutral” rating and a $55.00 price target for the company. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Wolfe Research cut Southwestern Energy from a “peer perform” rating to an “underperform” rating in a report on Thursday, April 18th. Finally, Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Dana currently has an average rating of “Buy” and an average price target of $21.10.
In related news, VP James D. Kellett sold 2,825 shares of Dana stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $16.05, for a total value of $45,341.25. Following the sale, the vice president now directly owns 2,704 shares in the company, valued at $43,399.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.75% of the stock is owned by insiders.
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 Drive and Motion Technologies, and Power Technologies.
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