Shares of Dana Inc (NYSE:DAN) gapped up prior to trading on Monday . The stock had previously closed at $26.73, but opened at $27.14. Dana shares last traded at $26.73, with a volume of 1386953 shares changing hands.
A number of brokerages recently weighed in on DAN. Guggenheim reissued a “buy” rating and issued a $40.00 price target on shares of Dana in a report on Wednesday, January 10th. Barclays reissued a “hold” rating and issued a $32.00 price target on shares of Dana in a report on Tuesday, January 9th. ValuEngine lowered shares of Dana from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Deutsche Bank raised their price target on shares of Dana from $24.00 to $30.00 and gave the company a “hold” rating in a report on Friday, November 17th. Finally, Zacks Investment Research raised shares of Dana from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.45.
The company has a quick ratio of 1.12, a current ratio of 1.69 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $3,790.00, a price-to-earnings ratio of 13.14 and a beta of 1.79.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.53%. This is a boost from Dana’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 1st. Dana’s dividend payout ratio (DPR) is currently 20.10%.
Dana declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 17th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, EVP Mark E. Wallace sold 40,339 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $33.42, for a total value of $1,348,129.38. Following the sale, the executive vice president now directly owns 108,139 shares of the company’s stock, valued at approximately $3,614,005.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dwayne Matthews sold 33,244 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $33.22, for a total transaction of $1,104,365.68. Following the completion of the sale, the insider now directly owns 65,267 shares in the company, valued at $2,168,169.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,207 shares of company stock worth $2,870,602. Insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC lifted its position in Dana by 0.9% in the 4th quarter. Teachers Advisors LLC now owns 265,343 shares of the auto parts company’s stock valued at $8,494,000 after acquiring an additional 2,270 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Dana by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,502 shares of the auto parts company’s stock worth $240,000 after buying an additional 2,447 shares in the last quarter. Rhumbline Advisers lifted its position in Dana by 1.1% during the 4th quarter. Rhumbline Advisers now owns 309,003 shares of the auto parts company’s stock worth $9,891,000 after buying an additional 3,218 shares in the last quarter. KBC Group NV lifted its position in Dana by 107.9% during the 4th quarter. KBC Group NV now owns 6,707 shares of the auto parts company’s stock worth $215,000 after buying an additional 3,481 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its position in Dana by 23.1% during the 4th quarter. Flinton Capital Management LLC now owns 19,210 shares of the auto parts company’s stock worth $615,000 after buying an additional 3,604 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.
Dana Company Profile
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. 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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