State Board of Administration of Florida Retirement System cut its stake in shares of Dana Holding Corp. (NYSE:DAN) by 11.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,161 shares of the company’s stock after selling 15,837 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.09% of Dana Holding Corp. worth $1,301,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Dana Holding Corp. during the fourth quarter valued at $21,018,000. Aperio Group LLC boosted its stake in Dana Holding Corp. by 174.8% in the first quarter. Aperio Group LLC now owns 93,364 shares of the company’s stock valued at $1,315,000 after buying an additional 59,389 shares during the period. Ramsey Quantitative Systems boosted its stake in Dana Holding Corp. by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 37,537 shares of the company’s stock valued at $529,000 after buying an additional 1,945 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Dana Holding Corp. during the first quarter valued at $309,000. Finally, BlackRock Inc. boosted its stake in Dana Holding Corp. by 7.6% in the first quarter. BlackRock Inc. now owns 64,659 shares of the company’s stock valued at $911,000 after buying an additional 4,554 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.
Dana Holding Corp. (NYSE:DAN) traded up 1.13% during midday trading on Monday, reaching $15.21. 1,632,638 shares of the company’s stock were exchanged. Dana Holding Corp. has a 52 week low of $9.80 and a 52 week high of $18.12. The firm has a market capitalization of $2.19 billion, a P/E ratio of 17.07 and a beta of 1.94. The stock’s 50 day moving average is $14.08 and its 200 day moving average is $12.85.
Dana Holding Corp. (NYSE:DAN) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Dana Holding Corp. had a net margin of 2.31% and a return on equity of 26.75%. The company earned $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. Dana Holding Corp.’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, analysts expect that Dana Holding Corp. will post $1.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.24 annualized dividend and a yield of 1.58%. Dana Holding Corp.’s dividend payout ratio is currently 27.59%.
DAN has been the subject of several analyst reports. Zacks Investment Research raised shares of Dana Holding Corp. from a “sell” rating to a “hold” rating in a research note on Monday, June 27th. Royal Bank Of Canada increased their price target on shares of Dana Holding Corp. from $11.00 to $14.00 and gave the company a “sector perform” rating in a research note on Friday, July 22nd. FBR & Co reissued a “buy” rating and issued a $17.00 price target on shares of Dana Holding Corp. in a research note on Friday, July 22nd. RBC Capital Markets reaffirmed a “sector perform” rating and set a $14.00 price objective (up previously from $11.00) on shares of Dana Holding Corp. in a research report on Sunday, July 24th. Finally, Barclays PLC raised shares of Dana Holding Corp. from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $12.00 to $20.00 in a research report on Friday. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Dana Holding Corp. has a consensus rating of “Hold” and an average target price of $17.00.
In other news, Director Mark A. Schulz sold 10,201 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $14.60, for a total value of $148,934.60. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $292,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Schulz sold 5,444 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $14.43, for a total transaction of $78,556.92. Following the completion of the transaction, the director now owns 30,201 shares of the company’s stock, valued at $435,800.43. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
About Dana Holding Corp.
Dana Inc, formerly Dana Holding Corporation, is a provider of high technology driveline, sealing and thermal-management products. The Company offers its products to vehicle manufacturers in the global light vehicle, medium/heavy vehicle and off-highway markets. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
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