DAN has been the topic of several other reports. Barclays restated a hold rating and set a $32.00 price objective on shares of Dana in a research note on Tuesday, January 9th. ValuEngine cut Dana from a strong-buy rating to a buy rating in a research note on Friday, December 1st. Deutsche Bank raised their price objective on Dana from $24.00 to $30.00 and gave the company a hold rating in a research note on Friday, November 17th. B. Riley reaffirmed a neutral rating on shares of Dana in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised Dana from a hold rating to a buy rating and set a $33.00 target price for the company in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $29.55.
Shares of Dana (DAN) opened at $28.87 on Wednesday. The firm has a market cap of $4,191.12, a P/E ratio of 40.86 and a beta of 1.66. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 1.58. Dana has a 52-week low of $17.53 and a 52-week high of $35.27.
Dana announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO James Kevin Kamsickas sold 57,003 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $31.01, for a total transaction of $1,767,663.03. Following the completion of the sale, the chief executive officer now directly owns 96,312 shares of the company’s stock, valued at approximately $2,986,635.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Aziz Aghili sold 12,624 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.12, for a total value of $418,106.88. Following the sale, the insider now directly owns 18,024 shares of the company’s stock, valued at $596,954.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,533 shares of company stock valued at $4,873,626. Insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in DAN. Royal Bank of Canada increased its holdings in Dana by 47.3% in the 2nd quarter. Royal Bank of Canada now owns 208,043 shares of the auto parts company’s stock worth $4,646,000 after acquiring an additional 66,827 shares during the last quarter. State Street Corp increased its holdings in Dana by 3.3% in the 2nd quarter. State Street Corp now owns 5,224,885 shares of the auto parts company’s stock worth $116,673,000 after acquiring an additional 165,291 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Dana by 1.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 56,136 shares of the auto parts company’s stock worth $1,254,000 after acquiring an additional 805 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Dana in the 3rd quarter worth about $3,942,000. Finally, Fox Run Management L.L.C. purchased a new stake in Dana in the 3rd quarter worth about $1,040,000. 96.71% of the stock is owned by institutional investors.
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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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