Dana Incorporated (NYSE:DAN) announced a quarterly dividend on Wednesday, October 25th, NASDAQ reports. Stockholders of record on Friday, November 10th will be given a dividend of 0.06 per share by the auto parts company on Friday, December 1st. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, November 9th.
Dana has increased its dividend by an average of 14.5% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Dana has a dividend payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dana to earn $2.67 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 9.0%.
Dana (NYSE DAN) traded up $0.46 during mid-day trading on Friday, hitting $31.34. The stock had a trading volume of 1,968,811 shares, compared to its average volume of 1,206,434. The company has a market capitalization of $4.54 billion, a P/E ratio of 12.60 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.17 and a current ratio of 1.72.
Dana (NYSE:DAN) last posted its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Dana had a net margin of 10.27% and a return on equity of 29.34%. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. equities analysts expect that Dana will post 2.43 earnings per share for the current year.
In related news, Director Terrence J. Keating sold 2,321 shares of Dana stock in a transaction on Monday, October 30th. The shares were sold at an average price of $29.62, for a total value of $68,748.02. Following the sale, the director now owns 52,140 shares of the company’s stock, valued at approximately $1,544,386.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark E. Wallace sold 36,603 shares of Dana stock in a transaction on Monday, October 30th. The shares were sold at an average price of $29.68, for a total transaction of $1,086,377.04. Following the completion of the sale, the executive vice president now directly owns 108,239 shares in the company, valued at approximately $3,212,533.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,759 shares of company stock worth $1,773,750. 1.60% of the stock is owned by corporate insiders.
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Several brokerages have issued reports on DAN. Zacks Investment Research upgraded shares of Dana from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Thursday, July 27th. Barclays PLC set a $28.00 target price on shares of Dana and gave the stock a “hold” rating in a report on Friday, October 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $27.00 target price on shares of Dana in a report on Thursday, October 5th. BidaskClub cut shares of Dana from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, FBR & Co reiterated a “neutral” rating and set a $25.00 target price (up from $17.00) on shares of Dana in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Dana has a consensus rating of “Hold” and an average price target of $27.00.
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
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