Dana (NYSE:DAN) Sees Strong Trading Volume Following Analyst Upgrade

Dana Incorporated (NYSE:DAN) shares saw an uptick in trading volume on Wednesday after Oppenheimer raised their price target on the stock from $17.00 to $18.00. Oppenheimer currently has an outperform rating on the stock. 1,179,263 shares traded hands during mid-day trading, a decline of 6% from the previous session’s volume of 1,259,571 shares.The stock last traded at $13.00 and had previously closed at $12.43.

DAN has been the topic of a number of other reports. Barclays reduced their price target on shares of Dana from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Wells Fargo & Company cut their price objective on Dana from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on Dana from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Dana has an average rating of “Hold” and a consensus target price of $16.67.

Institutional Investors Weigh In On Dana

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its holdings in Dana by 71.5% in the fourth quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company’s stock valued at $519,000 after acquiring an additional 14,800 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Dana during the third quarter worth approximately $567,000. Strs Ohio lifted its holdings in Dana by 1.6% in the third quarter. Strs Ohio now owns 58,000 shares of the auto parts company’s stock valued at $850,000 after buying an additional 900 shares during the period. Great Lakes Advisors LLC boosted its stake in Dana by 93.6% in the third quarter. Great Lakes Advisors LLC now owns 66,513 shares of the auto parts company’s stock valued at $976,000 after acquiring an additional 32,163 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Dana during the 3rd quarter worth $1,602,000. 96.79% of the stock is owned by institutional investors and hedge funds.

Dana Stock Up 6.7 %

The firm’s 50-day simple moving average is $12.34 and its 200 day simple moving average is $12.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.58. The company has a market cap of $1.92 billion, a P/E ratio of 51.00, a PEG ratio of 0.36 and a beta of 2.49.

Dana (NYSE:DAN) last released its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Dana had a net margin of 0.36% and a return on equity of 7.37%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts forecast that Dana Incorporated will post 0.99 earnings per share for the current fiscal year.

Dana Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 10th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, May 9th. Dana’s dividend payout ratio (DPR) is 153.85%.

Dana Company Profile

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.