Dana (NYSE:DAN) Reaches New 12-Month High – Here’s What Happened

Dana Incorporated (NYSE:DAN)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $16.86 and last traded at $16.81, with a volume of 365056 shares trading hands. The stock had previously closed at $16.35.

Analyst Ratings Changes

Several research firms recently commented on DAN. Deutsche Bank Aktiengesellschaft raised Dana from a “hold” rating to a “buy” rating and increased their target price for the company from $9.00 to $19.00 in a report on Monday, December 9th. Wells Fargo & Company raised Dana from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $10.00 to $16.00 in a report on Monday, January 27th. Barclays raised their price objective on Dana from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. BNP Paribas raised Dana from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $9.00 to $16.00 in a report on Tuesday, December 3rd. Finally, UBS Group raised their price objective on Dana from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dana has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Dana Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 1.58. The stock has a fifty day moving average of $13.42 and a 200-day moving average of $11.32. The stock has a market cap of $2.44 billion, a PE ratio of -153.21, a price-to-earnings-growth ratio of 0.71 and a beta of 2.33.

Dana Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 28th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, February 28th. Dana’s dividend payout ratio is currently -363.60%.

Hedge Funds Weigh In On Dana

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC purchased a new position in shares of Dana during the third quarter worth about $2,687,000. JB Capital Partners LP lifted its position in Dana by 9.9% in the third quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock valued at $14,880,000 after purchasing an additional 128,000 shares during the period. GAMMA Investing LLC lifted its position in Dana by 118.3% in the fourth quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 1,464 shares during the period. Yousif Capital Management LLC lifted its position in Dana by 2.0% in the fourth quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company’s stock valued at $657,000 after purchasing an additional 1,130 shares during the period. Finally, Versant Capital Management Inc lifted its position in Dana by 484.6% in the fourth quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 2,234 shares during the period. Hedge funds and other institutional investors own 96.79% of the company’s stock.

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.