Dana (NYSE:DAN) Reaches New 12-Month High – Here’s What Happened

Dana Incorporated (NYSE:DAN) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $16.86 and last traded at $16.81, with a volume of 365056 shares changing hands. The stock had previously closed at $16.35.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company upgraded Dana from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $16.00 in a report on Monday, January 27th. Barclays upped their price objective on Dana from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. BNP Paribas upgraded Dana from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $9.00 to $16.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price objective on Dana from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, UBS Group upped their price objective on Dana from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.86.

Dana Stock Up 3.1 %

The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.86. The business has a 50 day simple moving average of $13.42 and a 200 day simple moving average of $11.32. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -153.21, a PEG ratio of 0.71 and a beta of 2.33.

Dana Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 28th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, February 28th. Dana’s payout ratio is currently -363.60%.

Institutional Trading of Dana

Several hedge funds have recently modified their holdings of the stock. State of Tennessee Department of Treasury raised its stake in shares of Dana by 6.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company’s stock valued at $627,000 after acquiring an additional 3,368 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Dana by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 79,026 shares of the auto parts company’s stock valued at $914,000 after acquiring an additional 4,531 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Dana by 829.3% in the fourth quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company’s stock valued at $48,000 after acquiring an additional 3,732 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Dana by 1.9% in the fourth quarter. Russell Investments Group Ltd. now owns 936,143 shares of the auto parts company’s stock valued at $10,822,000 after acquiring an additional 17,569 shares in the last quarter. Finally, JB Capital Partners LP raised its stake in shares of Dana by 28.6% in the fourth quarter. JB Capital Partners LP now owns 1,832,293 shares of the auto parts company’s stock valued at $21,181,000 after acquiring an additional 407,000 shares in the last quarter. 96.79% of the stock is currently owned by institutional investors and hedge funds.

About Dana

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.