Dana Incorporated will issue a quarterly dividend of $0.10 (NYSE:DAN)
Dana Incorporated (NYSE:DAN – Get Rating) announced a quarterly dividend on Wednesday, July 27, Zacks reports. Shareholders of record on Friday, August 12 will receive a dividend of 0.10 per share from the auto parts company on Friday, September 2. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Thursday, August 11.
Dana has a payout ratio of 17.5%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dana to earn $2.05 per share next year, meaning the company should continue to be able to cover its $0.40 annual dividend with a payout ratio. expected future of 19.5%.
Dana stock performance
DAN shares opened at $16.49 on Friday. Dana has a 52-week low of $13.06 and a 52-week high of $25.59. The company has a quick ratio of 0.90, a current ratio of 1.52 and a debt ratio of 1.20. The company has a 50-day moving average price of $15.25 and a 200-day moving average price of $17.33. The company has a market capitalization of $2.36 billion, a PE ratio of 16.66 and a beta of 2.27.
Dana (NYSE:DAN – Get Rating) last released its quarterly results on Wednesday, April 27. The auto parts company reported earnings per share (EPS) of $0.16 for the quarter, beating analysts’ consensus estimate of $0.14 by $0.02. The company posted revenue of $2.48 billion in the quarter, versus analyst estimates of $2.24 billion. Dana had a net margin of 1.56% and a return on equity of 8.65%. The company’s revenue increased by 9.6% compared to the same quarter last year. In the same period a year earlier, the company earned earnings per share of $0.66. On average, sell-side analysts expect Dana to post 1.16 earnings per share for the current fiscal year.
Analysts set new price targets
Several equity research analysts have recently released reports on the stock. Exane BNP Paribas began covering Dana shares in a research note on Monday (April 11). They issued a “neutral” rating on the title. Deutsche Bank Aktiengesellschaft lowered its price target on Dana from $21.00 to $18.00 in a Thursday, April 28 report. Barclays reduced its price target on Dana from $18.00 to $16.00 in a research report Thursday, April 28. StockNews.com supported Dana’s coverage in a research report on Thursday, March 31. They set a “hold” rating for the company. Finally, BNP Paribas began covering Dana in a research note on Monday, April 11. They set a “neutral” rating on the stock. Five equity research analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.00.
Hedge funds weigh on Dana
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Yousif Capital Management LLC increased its stake in Dana shares by 2.9% in the 1st quarter. Yousif Capital Management LLC now owns 82,651 shares of the auto parts company worth $1,452,000 after buying 2,303 additional shares last quarter. MetLife Investment Management LLC increased its position in Dana by 41.1% during the 1st quarter. MetLife Investment Management LLC now owns 169,160 shares of the auto parts company valued at $2,972,000 after buying an additional 49,268 shares last quarter. Rhumbline Advisers increased its stake in Dana by 1.5% in the 1st quarter. Rhumbline Advisers now owns 427,547 shares of the auto parts company valued at $7,512,000 after buying an additional 6,465 shares in the last quarter. Gabelli Funds LLC increased its stake in Dana by 2.3% during the 1st quarter. Gabelli Funds LLC now owns 2,621,679 shares of the auto parts company valued at $46,063,000 after buying an additional 60,025 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its equity stake in Dana by 9.6% in Q1. Gamco Investors Inc. ET AL now owns 3,612,318 shares of the auto parts company worth $63,468,000 after purchasing an additional 316,466 shares in the last quarter. 94.65% of the shares are currently held by hedge funds and other institutional investors.
Dana Company Profile
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Dana Incorporated provides energy transportation and energy management solutions for vehicles and machinery in North America, Europe, South America and Asia-Pacific. It operates in four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive & Motion Systems, Off-Road Drive & Motion Systems and Power Technologies.
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