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

Shares of Dana Incorporated (NYSE:DAN) hit a new 52-week high during 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 changing hands. The stock had previously closed at $32.07.

The newly announced dividend which will be paid on Friday, March 20th. Investors of record on Friday, February 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Dana’s previous quarterly dividend of $0.10. Dana’s dividend payout ratio is currently 88.89%.

Analyst Ratings Changes

A number of equities research analysts have commented on DAN shares. JPMorgan Chase & Co. increased their target price on Dana from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. UBS Group increased their price objective on Dana from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Barclays boosted their target price on shares of Dana from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Wells Fargo & Company raised their price target on shares of Dana from $24.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $36.00 price objective on shares of Dana in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Dana currently has an average rating of “Moderate Buy” and an average price target of $32.17.

Dana Price Performance

The company’s 50-day moving average is $26.63 and its 200-day moving average is $22.19. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 73.70, a PEG ratio of 1.41 and a beta of 2.14. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.31 and a quick ratio of 0.96.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Dana during the second quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted 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. GAMMA Investing LLC grew its holdings in shares of Dana by 11.3% during the 4th quarter. GAMMA Investing LLC now owns 4,315 shares of the auto parts company’s stock worth $103,000 after purchasing an additional 439 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Dana during the 2nd quarter worth about $176,000. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Dana during the 4th quarter worth approximately $309,000. 96.79% of the stock is owned by hedge funds and other institutional investors.

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.