Dana Sees Unusually High Options Volume (NYSE:DAN)

Dana Incorporated (NYSE:DAN) was the target of some unusual options trading activity on Thursday. Traders purchased 6,628 call options on the stock. This is an increase of approximately 106% compared to the typical volume of 3,210 call options.

Institutional Trading of Dana

A number of hedge funds and other institutional investors have recently bought and sold shares of DAN. Yousif Capital Management LLC increased its holdings in shares of Dana by 2.0% in the 4th quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company’s stock worth $657,000 after buying an additional 1,130 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Dana by 3.8% in the 1st quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company’s stock worth $599,000 after buying an additional 1,662 shares during the last quarter. State of Tennessee Department of Treasury increased its holdings in shares of Dana by 6.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company’s stock worth $627,000 after buying an additional 3,368 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Dana by 829.3% in the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company’s stock worth $48,000 after buying an additional 3,732 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Dana by 6.1% in the 4th quarter. MetLife Investment Management LLC now owns 79,026 shares of the auto parts company’s stock worth $914,000 after buying an additional 4,531 shares during the last quarter. Institutional investors own 96.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DAN. UBS Group lifted their price objective on shares of Dana from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen raised shares of Dana from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Royal Bank of Canada boosted their price target on shares of Dana from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays boosted their price target on shares of Dana from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of Dana from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.43.

Dana Stock Performance

Shares of DAN stock opened at $17.19 on Friday. The stock has a market capitalization of $2.50 billion, a P/E ratio of -44.06, a PEG ratio of 0.72 and a beta of 2.11. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The firm’s 50 day moving average is $14.65 and its 200 day moving average is $13.91. Dana has a 12 month low of $7.58 and a 12 month high of $18.03.

Dana (NYSE:DAN) last posted its earnings results on Wednesday, April 30th. The auto parts company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.28 billion. Dana had a positive return on equity of 6.70% and a negative net margin of 0.55%. The business’s revenue was down 14.0% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. On average, sell-side analysts anticipate that Dana will post 1.5 earnings per share for the current year.

Dana Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, May 31st. Investors of record on Saturday, May 10th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.33%. Dana’s dividend payout ratio (DPR) is presently -166.67%.

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.