Dana (NYSE:DAN) Sets New 12-Month High Following Dividend Announcement
by Michael Walen · The Markets DailyDana Incorporated (NYSE:DAN – Get Free Report) hit a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $34.05 and last traded at $33.40, with a volume of 1832029 shares traded. The stock had previously closed at $32.07.
The newly announced dividend which will be paid on Friday, March 20th. Stockholders of record on Friday, February 27th will be paid a $0.12 dividend. This is a boost from Dana’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Dana’s payout ratio is 88.89%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on DAN shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $36.00 price target on shares of Dana in a research report on Thursday, January 22nd. UBS Group upped their target price on shares of Dana from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Dana in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their price target on Dana from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Zacks Research raised Dana from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.17.
View Our Latest Stock Analysis on DAN
Dana Stock Performance
The company has a market cap of $3.90 billion, a price-to-earnings ratio of 74.21, a price-to-earnings-growth ratio of 1.40 and a beta of 2.14. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.31 and a quick ratio of 0.96. The stock has a 50-day moving average price of $26.88 and a 200 day moving average price of $22.31.
Institutional Trading of Dana
Several hedge funds have recently added to or reduced their stakes in DAN. FNY Investment Advisers LLC bought a new stake in Dana during the second quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Dana by 39.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,580 shares of the auto parts company’s stock worth $38,000 after buying an additional 445 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Dana by 11.3% in the 4th quarter. GAMMA Investing LLC now owns 4,315 shares of the auto parts company’s stock valued at $103,000 after buying an additional 439 shares during the period. Captrust Financial Advisors acquired a new position in shares of Dana during the second quarter worth approximately $176,000. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Dana in the 4th quarter valued at $309,000. 96.79% of the stock is owned by institutional investors and hedge funds.
About Dana
Dana Incorporated is a global leader in the design and manufacture of drivetrain, sealing, and thermal-management technologies for the automotive, commercial vehicle, off-highway and industrial markets. The company’s product portfolio includes axles, driveshafts, transmissions, e-Propulsion systems and thermal-management assemblies that help improve fuel efficiency, reduce emissions and enhance vehicle performance. Dana’s expertise spans internal combustion and electrified powertrains, positioning it to support both traditional and next-generation mobility solutions.
Founded in 1904 by Clarence W.