Dana Incorporated expects quarterly dividend of $0.10 (NYSE: DAN)
Dana Incorporated (NYSE:DAN – Get Rating) announced a quarterly dividend on Wednesday, October 26, Zacks reports. Shareholders of record on Friday, November 11 will receive a dividend of 0.10 per share from the auto parts company on Friday, December 2. This represents an annualized dividend of $0.40 and a dividend yield of 2.59%. The ex-date of this dividend is Wednesday, November 9.
Dana has a payout ratio of 22.0%, which means that its dividend is sufficiently covered by earnings. Analysts expect Dana to earn $1.76 per share next year, meaning the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio. by 22.7%.
Dana’s price performance
DAN lost $0.59 during Friday’s trading, hitting $15.44. The stock recorded trading volume of 48,325 shares, compared to an average trading volume of 1,438,724 shares. Dana has a 1-year low of $11.17 and a 1-year high of $25.51. The company has a market capitalization of $2.21 billion, a price-earnings ratio of 22.78 and a beta of 2.27. The stock has a 50-day moving average of $13.94 and a two-hundred-day moving average of $14.97. The company has a quick ratio of 0.91, a current ratio of 1.52 and a debt ratio of 1.24.
Dana (NYSE:DAN – Get Rating) last reported quarterly earnings data on Wednesday, August 3. The auto parts company reported EPS of $0.08 for the quarter, missing analyst consensus estimates of $0.21 per ($0.13). Dana had a return on equity of 4.89% and a net margin of 1.03%. The company posted revenue of $2.59 billion for the quarter, versus analyst estimates of $2.45 billion. In the same quarter a year earlier, the company posted earnings of $0.59 per share. The company’s revenue increased by 17.3% compared to the same quarter last year. As a group, equity analysts expect Dana to post 0.68 EPS for the current fiscal year.
Institutional investors weigh in on Dana
A number of hedge funds have recently changed their holdings in the company. Gamco Investors Inc. ET AL increased its stake in Dana by 9.6% during the 1st quarter. 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. Gabelli Funds LLC increased its position in Dana shares by 2.3% in the first quarter. Gabelli Funds LLC now owns 2,621,679 shares of the auto parts company worth $46,063,000 after buying an additional 60,025 shares in the last quarter. Rhumbline Advisers increased its holdings in Dana by 1.5% in the first quarter. Rhumbline Advisers now owns 427,547 shares of the auto parts company worth $7,512,000 after buying an additional 6,465 shares in the last quarter. MetLife Investment Management LLC increased its position in Dana by 41.1% in the first 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. Finally, Yousif Capital Management LLC increased its stake in Dana by 2.9% in the 1st quarter. Yousif Capital Management LLC now owns 82,651 shares of the auto parts company valued at $1,452,000 after buying 2,303 additional shares in the last quarter. Institutional investors and hedge funds own 95.98% of the company’s shares.
Changes to analyst ratings
DAN has been the subject of several analyst reports. Royal Bank of Canada downgraded Dana’s shares from an “outperform” rating to an “sector performance” rating and raised its price target for the stock from $15.00 to $16.00 in a research note Friday. Wells Fargo & Company raised its price target on Dana from $15.00 to $16.00 and gave the stock an “equal weight” rating in a Thursday, Aug. 4, report. StockNews.com began covering Dana in a report on Wednesday, October 12. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded Dana’s shares from a “buy” rating to a “hold” rating and reduced its price target for the stock from $18.00 to $15.00 in a report of research from Thursday August 4th. Seven analysts rated the stock with a holding rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.75.
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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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