Dana (NYSE:DAN) Shares Gap Down – Here’s What Happened

Dana Incorporated (NYSE:DAN)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $35.47, but opened at $33.18. Dana shares last traded at $29.80, with a volume of 357,083 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DAN shares. Wall Street Zen lowered Dana from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. UBS Group lifted their price objective on Dana from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Zacks Research lowered Dana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings upgraded Dana from a “hold (c-)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $41.00 price objective on shares of Dana in a research note on Friday. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Dana presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Dana Trading Up 2.4%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.09 and a current ratio of 1.57. The company has a 50 day moving average of $35.31 and a two-hundred day moving average of $30.98. The stock has a market cap of $3.34 billion, a PE ratio of 3.00 and a beta of 1.94.

Dana (NYSE:DAN) last announced its quarterly earnings results on Friday, May 15th. The auto parts company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.18). Dana had a net margin of 15.12% and a return on equity of 3.56%. The business had revenue of $1.87 billion during the quarter. Sell-side analysts anticipate that Dana Incorporated will post 2.64 earnings per share for the current fiscal year.

Dana Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 8th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, May 8th. Dana’s payout ratio is currently 4.66%.

Hedge Funds Weigh In On Dana

Several institutional investors and hedge funds have recently modified their holdings of DAN. EverSource Wealth Advisors LLC increased its stake in shares of Dana by 39.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,580 shares of the auto parts company’s stock valued at $38,000 after purchasing an additional 445 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Dana by 105.2% in the 1st quarter. Parallel Advisors LLC now owns 1,925 shares of the auto parts company’s stock valued at $65,000 after purchasing an additional 987 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Dana by 11.3% in the 4th quarter. GAMMA Investing LLC now owns 4,315 shares of the auto parts company’s stock valued at $103,000 after purchasing an additional 439 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Dana in the 2nd quarter valued at about $176,000. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of Dana in the 4th quarter valued at about $309,000. Hedge funds and other institutional investors own 96.79% of the company’s stock.

About Dana

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.