Stock Traders Purchase Large Volume of Call Options on Dana (NYSE:DAN)

Dana Incorporated (NYSE:DAN - Get Free Report) was the target of unusually large options trading activity on Thursday. Traders purchased 6,628 call options on the stock. This represents an increase of 106% compared to the typical daily volume of 3,210 call options.

Hedge Funds Weigh In On Dana

A number of large investors have recently added to or reduced their stakes in the business. JB Capital Partners LP grew its holdings in Dana by 1.1% in the 1st quarter. JB Capital Partners LP now owns 1,852,293 shares of the auto parts company's stock worth $24,524,000 after acquiring an additional 20,000 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Dana by 1.9% in the 4th quarter. Russell Investments Group Ltd. now owns 936,143 shares of the auto parts company's stock worth $10,822,000 after acquiring an additional 17,569 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in Dana in the 4th quarter worth $9,498,000. Cibc World Markets Corp grew its holdings in Dana by 1.8% in the 4th quarter. Cibc World Markets Corp now owns 687,220 shares of the auto parts company's stock worth $7,944,000 after acquiring an additional 12,220 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its holdings in Dana by 11.5% in the 1st quarter. Great Lakes Advisors LLC now owns 313,039 shares of the auto parts company's stock worth $4,173,000 after acquiring an additional 32,241 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company's stock.

Analyst Ratings Changes

DAN has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on shares of Dana from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Thursday. UBS Group raised their price objective on shares of Dana from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen upgraded shares of Dana from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Barclays raised their price objective on shares of Dana from $20.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Dana from $15.00 to $17.00 and gave the company an "equal weight" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Dana has an average rating of "Moderate Buy" and an average target price of $20.43.

Dana Trading Down 1.1%

NYSE:DAN traded down $0.20 during trading hours on Friday, reaching $17.19. The company's stock had a trading volume of 2,366,065 shares, compared to its average volume of 1,725,142. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -44.06, a PEG ratio of 0.72 and a beta of 2.11. The firm has a 50-day simple moving average of $14.65 and a 200-day simple moving average of $13.96. Dana has a 1 year low of $7.58 and a 1 year high of $18.03. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 1.45.

Dana (NYSE:DAN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The auto parts company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.28 billion. Dana had a positive return on equity of 6.70% and a negative net margin of 0.55%. Dana's revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 EPS. Research analysts expect that Dana will post 1.5 EPS for the current fiscal year.

Dana Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, May 31st. Investors of record on Saturday, May 10th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.33%. Dana's payout ratio is presently -166.67%.

Dana Company Profile

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.