Dana (NYSE:DAN) Hits New 52-Week High Following Dividend Announcement

Dana Incorporated (NYSE:DAN) shares reached a new 52-week high during mid-day 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. Shareholders of record on Friday, February 27th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, February 27th. This is a boost from Dana’s previous quarterly dividend of $0.10. Dana’s dividend payout ratio is 88.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DAN shares. Zacks Research upgraded shares of Dana from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Royal Bank Of Canada upped their price objective on Dana from $26.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. UBS Group increased their price objective on Dana from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on Dana from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $36.00 price target on shares of Dana in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.17.

Dana Stock Performance

The stock’s 50-day moving average price is $26.41 and its 200 day moving average price is $22.12. The firm has a market cap of $3.90 billion, a P/E ratio of 74.22, a price-to-earnings-growth ratio of 1.36 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 Investors Weigh In On Dana

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL grew its stake in shares of Dana by 1,706.3% in the third quarter. Tudor Investment Corp ET AL now owns 213,144 shares of the auto parts company’s stock valued at $4,271,000 after buying an additional 201,344 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Dana by 4.2% in the second quarter. Loomis Sayles & Co. L P now owns 1,102,729 shares of the auto parts company’s stock valued at $18,912,000 after acquiring an additional 44,010 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Dana by 3.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 927,987 shares of the auto parts company’s stock valued at $18,597,000 after acquiring an additional 27,712 shares during the period. Horizon Investments LLC bought a new position in shares of Dana in the 3rd quarter valued at about $553,000. Finally, Entropy Technologies LP increased its stake in shares of Dana by 266.2% during the 3rd quarter. Entropy Technologies LP now owns 37,303 shares of the auto parts company’s stock worth $748,000 after purchasing an additional 27,116 shares during the last quarter. 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.