Dana Incorporated Announces Quarterly Dividend of $0.10 (NYSE:DAN)

Dana Incorporated (NYSE:DAN) announced a quarterly dividend on Wednesday, October 25th, Zacks reports. Stockholders of record on Friday, November 10th will be paid a dividend of 0.10 per share by the auto parts company on Friday, December 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, November 9th.

Dana has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dana to earn $1.36 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 29.4%.

Dana Stock Down 0.2 %

DAN opened at $12.02 on Wednesday. The company has a fifty day moving average of $14.01 and a 200 day moving average of $15.22. Dana has a fifty-two week low of $11.10 and a fifty-two week high of $19.75. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 1.56.

Dana (NYSE:DAN) last posted its earnings results on Friday, October 27th. The auto parts company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.20. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Dana had a negative net margin of 0.96% and a positive return on equity of 7.16%. Dana’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.24 earnings per share. As a group, sell-side analysts forecast that Dana will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dana

A number of institutional investors and hedge funds have recently made changes to their positions in DAN. Captrust Financial Advisors lifted its holdings in shares of Dana by 121.5% in the 2nd quarter. Captrust Financial Advisors now owns 5,502 shares of the auto parts company’s stock worth $77,000 after acquiring an additional 3,018 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Dana in the 3rd quarter worth about $335,000. Yousif Capital Management LLC lifted its holdings in shares of Dana by 2.9% in the 1st quarter. Yousif Capital Management LLC now owns 82,651 shares of the auto parts company’s stock worth $1,452,000 after acquiring an additional 2,303 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of Dana by 51.1% in the 2nd quarter. State of Tennessee Treasury Department now owns 116,789 shares of the auto parts company’s stock worth $1,985,000 after acquiring an additional 39,515 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Dana by 41.1% in the 1st quarter. MetLife Investment Management LLC now owns 169,160 shares of the auto parts company’s stock worth $2,972,000 after acquiring an additional 49,268 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DAN shares. Barclays cut their target price on shares of Dana from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Oppenheimer dropped their price objective on shares of Dana from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. UBS Group assumed coverage on shares of Dana in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $17.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Dana from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, July 20th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.43.

About Dana

Dana Incorporated provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. It operates in four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.