Dana Inc (NYSE:DAN) announced a quarterly dividend on Tuesday, February 20th, Wall Street Journal reports. Stockholders of record on Friday, March 2nd will be paid a dividend of 0.10 per share by the auto parts company on Friday, March 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, March 1st. This is a positive change from Dana’s previous quarterly dividend of $0.06.
Dana has increased 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. 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%.
Shares of Dana (DAN) traded up $0.02 during trading on Tuesday, reaching $28.03. 1,585,521 shares of the company traded hands, compared to its average volume of 1,611,668. The company has a market cap of $4,063.02, a P/E ratio of 40.29 and a beta of 1.66. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.69 and a quick ratio of 1.12. Dana has a one year low of $17.53 and a one year high of $35.27.
Dana (NYSE:DAN) last issued its earnings results on Tuesday, February 13th. The auto parts company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Dana had a net margin of 1.54% and a return on equity of 30.70%. Dana’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. analysts anticipate that Dana will post 2.81 earnings per share for the current fiscal year.
In other news, insider Aziz Aghili sold 12,624 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.12, for a total transaction of $418,106.88. Following the sale, the insider now directly owns 18,024 shares in the company, valued at approximately $596,954.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Virginia A. Kamsky sold 7,323 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $32.14, for a total transaction of $235,361.22. Following the sale, the director now owns 35,448 shares in the company, valued at $1,139,298.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,530 shares of company stock worth $3,105,963. Corporate insiders own 1.60% of the company’s stock.
Dana declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
Several brokerages recently weighed in on DAN. Guggenheim reaffirmed a “buy” rating and issued a $40.00 target price on shares of Dana in a report on Wednesday, January 10th. B. Riley reaffirmed a “neutral” rating on shares of Dana in a report on Wednesday, November 1st. JPMorgan Chase & Co. dropped their target price on shares of Dana from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Dana in a report on Friday, October 27th. Finally, Buckingham Research boosted their price target on shares of Dana from $25.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.55.
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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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