Dana (NYSE:DAN) Hits New 52-Week High - What's Next?

Key Points

• Dana Incorporated's stock reached a new 52-week high of $18.12 during trading, compared to its previous close of $17.62.
• The stock has received multiple upgrades from analysts, with Wells Fargo reaffirming a "buy" rating and Royal Bank of Canada raising its price target from $20.00 to $24.00.
• The company declared a quarterly dividend of $0.10 per share, representing an annualized yield of 2.3%, with the payout ratio currently at -166.67%.

Dana Incorporated (NYSE:DAN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.12 and last traded at $17.76, with a volume of 159252 shares. The stock had previously closed at $17.62.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company reiterated a "buy" rating on shares of Dana in a report on Thursday, June 12th. Wall Street Zen upgraded shares of Dana from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Cfra Research upgraded shares of Dana from a "moderate sell" rating to a "hold" rating in a report on Tuesday. Royal Bank Of Canada restated an "outperform" rating and issued a $24.00 price objective (up from $20.00) on shares of Dana in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Dana from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Dana has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Dana Price Performance

The business's fifty day simple moving average is $16.89 and its 200-day simple moving average is $15.23. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 1.68. The firm has a market cap of $2.57 billion, a P/E ratio of -73.58, a PEG ratio of 1.04 and a beta of 2.14.

Dana Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 8th. Dana's payout ratio is -166.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new stake in Dana in the first quarter worth $2,434,000. Jones Financial Companies Lllp lifted its stake in Dana by 27,790.5% in the first quarter. Jones Financial Companies Lllp now owns 85,345 shares of the auto parts company's stock worth $1,138,000 after purchasing an additional 85,039 shares during the last quarter. GAMMA Investing LLC lifted its stake in Dana by 1,495.0% in the first quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company's stock worth $574,000 after purchasing an additional 40,394 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in Dana by 11.5% in the first quarter. Great Lakes Advisors LLC now owns 313,039 shares of the auto parts company's stock worth $4,173,000 after purchasing an additional 32,241 shares during the last quarter. Finally, JB Capital Partners LP lifted its stake in Dana by 1.1% in the first quarter. JB Capital Partners LP now owns 1,852,293 shares of the auto parts company's stock worth $24,524,000 after purchasing an additional 20,000 shares during the last quarter. 96.79% of the stock is currently owned by hedge funds and other 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.

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