Dana Inc (NYSE:DAN) declared a quarterly dividend on Tuesday, February 20th, Wall Street Journal reports. Stockholders of record on Friday, March 2nd will be given a dividend of 0.10 per share by the auto parts company on Friday, March 23rd. This represents a $0.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 1st. This is a boost from Dana’s previous quarterly dividend of $0.06.
Dana has raised its dividend by an average of 6.3% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Dana has a dividend payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dana to earn $3.12 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 7.7%.
Dana (NYSE DAN) opened at $27.28 on Wednesday. The stock has a market capitalization of $4,077.53, a price-to-earnings ratio of 11.15 and a beta of 1.66. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.12 and a current ratio of 1.69. Dana has a one year low of $17.53 and a one year high of $35.27.
Dana declared that its board has initiated a stock repurchase program on Wednesday, January 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
Several research firms have recently issued reports on DAN. Gabelli reaffirmed a “buy” rating on shares of Dana in a research note on Wednesday, February 14th. TheStreet downgraded Dana from a “b” rating to a “c” rating in a research note on Tuesday, February 13th. Guggenheim set a $36.00 price target on Dana and gave the stock a “buy” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. cut their price target on Dana from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Finally, Zacks Investment Research raised Dana from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.55.
In related news, EVP Mark E. Wallace sold 40,339 shares of Dana stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $33.42, for a total transaction of $1,348,129.38. Following the completion of the sale, the executive vice president now owns 108,139 shares in the company, valued at approximately $3,614,005.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dwayne Matthews sold 33,244 shares of Dana stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $33.22, for a total value of $1,104,365.68. Following the sale, the insider now owns 65,267 shares of the company’s stock, valued at approximately $2,168,169.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,530 shares of company stock valued at $3,105,963. 1.60% of the stock is currently owned by company insiders.
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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