Dana (DAN) Sees Large Volume Increase
Dana Inc (NYSE:DAN) shares saw strong trading volume on Friday . 5,330,351 shares traded hands during trading, an increase of 184% from the previous session’s volume of 1,877,805 shares.The stock last traded at $27.14 and had previously closed at $26.20.
Several equities research analysts recently commented on the company. Guggenheim set a $36.00 target price on Dana and gave the stock a “buy” rating in a research note on Wednesday, February 14th. TheStreet cut Dana from a “b” rating to a “c” rating in a research note on Tuesday, February 13th. Zacks Investment Research raised Dana from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, February 6th. Barclays reissued a “hold” rating and issued a $32.00 price objective on shares of Dana in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Dana from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.45.
The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.12 and a current ratio of 1.69. The firm has a market capitalization of $3,936.82, a P/E ratio of 10.77 and a beta of 1.79.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Thursday, March 1st. This is a positive change from Dana’s previous quarterly dividend of $0.06. Dana’s dividend payout ratio (DPR) is currently 57.14%.
Dana declared that its board has authorized a share buyback plan on Wednesday, January 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, EVP Mark E. Wallace sold 40,339 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $33.42, for a total value of $1,348,129.38. Following the transaction, the executive vice president now owns 108,139 shares in the company, valued at $3,614,005.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dwayne Matthews sold 33,244 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $33.22, for a total value of $1,104,365.68. Following the completion of the transaction, the insider now owns 65,267 shares in the company, valued at approximately $2,168,169.74. The disclosure for this sale can be found here. Insiders sold 86,207 shares of company stock worth $2,870,602 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB bought a new stake in Dana during the fourth quarter worth $409,000. MetLife Investment Advisors LLC bought a new stake in Dana during the fourth quarter worth $5,032,000. Gotham Asset Management LLC bought a new stake in Dana during the fourth quarter worth $9,841,000. Macquarie Group Ltd. bought a new stake in Dana during the fourth quarter worth $141,000. Finally, Vident Investment Advisory LLC lifted its holdings in Dana by 6.5% during the fourth quarter. Vident Investment Advisory LLC now owns 116,370 shares of the auto parts company’s stock worth $3,725,000 after acquiring an additional 7,106 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Dana (DAN) Sees Large Volume Increase” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2018/03/11/dana-dan-sees-large-volume-increase.html.
Dana Company Profile
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
Receive News & Ratings for Dana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dana and related companies with MarketBeat.com's FREE daily email newsletter.