Dana (NYSE:DAN) Reaches New 1-Year High Following Dividend Announcement

Dana Incorporated (NYSE:DAN) reached a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The company 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 dividend of $0.12 per share. The ex-dividend date is Friday, February 27th. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. This is an increase from Dana’s previous quarterly dividend of $0.10. Dana’s dividend payout ratio is presently 88.89%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DAN shares. Barclays raised their price target on Dana from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. UBS Group lifted their target price on shares of Dana from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Royal Bank Of Canada increased their price target on shares of Dana from $26.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $36.00 target price on shares of Dana in a research report on Thursday, January 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dana in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.17.

Dana Stock Up 4.1%

The firm has a 50 day moving average of $26.41 and a two-hundred day moving average of $22.12. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 74.22, a price-to-earnings-growth ratio of 1.36 and a beta of 2.14. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.23.

Hedge Funds Weigh In On Dana

A number of institutional investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P boosted its position in Dana by 4.2% in the second quarter. Loomis Sayles & Co. L P now owns 1,102,729 shares of the auto parts company’s stock valued at $18,912,000 after buying an additional 44,010 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Dana by 3.1% during the third quarter. Russell Investments Group Ltd. now owns 927,987 shares of the auto parts company’s stock worth $18,597,000 after buying an additional 27,712 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Dana by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 401,017 shares of the auto parts company’s stock valued at $6,877,000 after acquiring an additional 8,787 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of Dana by 1,706.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 213,144 shares of the auto parts company’s stock valued at $4,271,000 after acquiring an additional 201,344 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Dana by 6.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 207,608 shares of the auto parts company’s stock worth $4,160,000 after acquiring an additional 13,270 shares during the last quarter. 96.79% of the stock is currently owned by institutional investors and hedge funds.

Dana Company Profile

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.