Dana (NYSE:DAN) Stock Price Up 8.8% - Here's Why

Key Points

• Dana Incorporated's stock rose by 8.8% during trading, reaching a price of $16.72 after closing at $15.37.
• Several Wall Street analysts have given Dana's stock a consensus rating of "Moderate Buy" with an average target price of $21.00.
• The company recently announced a quarterly dividend of $0.10 per share, representing a 2.4% dividend yield, despite a negative payout ratio.

Dana Incorporated (NYSE:DAN - Get Free Report)'s share price rose 8.8% during mid-day trading on Tuesday . The company traded as high as $16.72 and last traded at $16.72. Approximately 462,965 shares were traded during trading, a decline of 75% from the average daily volume of 1,888,854 shares. The stock had previously closed at $15.37.

Analyst Upgrades and Downgrades

DAN has been the subject of a number of recent analyst reports. Barclays reiterated an "overweight" rating and set a $25.00 target price (up previously from $20.00) on shares of Dana in a research report on Thursday, June 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $24.00 target price (up previously from $20.00) on shares of Dana in a research 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. Finally, Wall Street Zen upgraded shares of Dana from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.00.

Dana Trading Down 0.2%

The business's fifty day simple moving average is $16.92 and its 200 day simple moving average is $15.31. 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 stock has a market cap of $2.56 billion, a P/E ratio of -73.05, a price-to-earnings-growth ratio of 1.92 and a beta of 2.14.

Dana Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 8th. Dana's dividend payout ratio (DPR) is -166.67%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in shares of Dana by 1,495.0% in the 1st quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company's stock valued at $574,000 after purchasing an additional 40,394 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Dana by 3.8% in the 1st 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 last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Dana in the 1st quarter valued at about $2,434,000. Sterling Capital Management LLC boosted its stake in Dana by 829.3% during the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company's stock worth $48,000 after acquiring an additional 3,732 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Dana by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 79,026 shares of the auto parts company's stock worth $914,000 after acquiring an additional 4,531 shares during the last quarter. Institutional investors own 96.79% of the company's stock.

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.