Dana (NYSE:DAN) Hits New 52-Week High – Time to Buy?

Dana Incorporated (NYSE:DAN)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $20.62 and last traded at $20.51, with a volume of 1337352 shares traded. The stock had previously closed at $20.35.

Analyst Upgrades and Downgrades

DAN has been the subject of a number of research reports. Wall Street Zen raised Dana from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Barclays reaffirmed an “overweight” rating and set a $25.00 price objective (up from $20.00) on shares of Dana in a report on Thursday, June 12th. Wells Fargo & Company reiterated a “buy” rating on shares of Dana in a research report on Thursday, June 12th. Cfra Research upgraded shares of Dana from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 price target (up previously from $20.00) on shares of Dana in a research note on Thursday, June 12th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Dana presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Dana Stock Performance

The company has a debt-to-equity ratio of 2.02, a current ratio of 1.36 and a quick ratio of 1.00. The business has a 50-day moving average of $17.44 and a 200-day moving average of $15.61. The company has a market capitalization of $2.69 billion, a P/E ratio of -128.16, a P/E/G ratio of 1.88 and a beta of 2.14.

Dana (NYSE:DAN) last released its quarterly earnings results on Monday, August 11th. The auto parts company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.35). Dana had a positive return on equity of 5.65% and a negative net margin of 0.26%.The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. Dana’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Dana Incorporated will post 1.5 EPS for the current year.

Dana Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 8th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 8th. Dana’s dividend payout ratio (DPR) is currently -250.00%.

Insider Transactions at Dana

In other Dana news, CAO James D. Kellett sold 11,728 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $18.65, for a total value of $218,727.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC boosted its position in Dana by 6.1% in the 4th quarter. MetLife Investment Management LLC now owns 79,026 shares of the auto parts company’s stock valued at $914,000 after buying an additional 4,531 shares during the period. State of Tennessee Department of Treasury increased its position in shares of Dana by 6.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company’s stock worth $627,000 after acquiring an additional 3,368 shares during the period. GAMMA Investing LLC raised its stake in shares of Dana by 1,495.0% during the first quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company’s stock valued at $574,000 after acquiring an additional 40,394 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Dana by 3.8% in the first quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company’s stock valued at $599,000 after purchasing an additional 1,662 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Dana in the first quarter valued at approximately $146,000. 96.79% of the stock is currently owned by institutional investors.

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.