Dana (NYSE:DAN) Shares Gap Down to $10.47

Dana Incorporated (NYSE:DAN)’s share price gapped down before the market opened on Friday . The stock had previously closed at $10.47, but opened at $9.84. Dana shares last traded at $9.73, with a volume of 552,951 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wolfe Research started coverage on shares of Dana in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $12.00 target price on shares of Dana in a report on Tuesday, September 10th. StockNews.com downgraded Dana from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Barclays increased their price objective on shares of Dana from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company cut shares of Dana from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $13.00 to $9.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.00.

Dana Trading Down 6.6 %

The company’s 50 day simple moving average is $11.01 and its 200-day simple moving average is $12.13. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55. The firm has a market cap of $1.42 billion, a P/E ratio of 108.11, a P/E/G ratio of 0.49 and a beta of 2.29.

Dana (NYSE:DAN) last issued its earnings results on Wednesday, July 31st. The auto parts company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the company posted $0.37 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts predict that Dana Incorporated will post 0.98 earnings per share for the current fiscal year.

Dana Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a yield of 4.09%. Dana’s payout ratio is 444.44%.

Hedge Funds Weigh In On Dana

Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Dana in the second quarter valued at about $388,000. Rhumbline Advisers raised its position in Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after acquiring an additional 5,468 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in Dana by 46.0% in the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after acquiring an additional 375,000 shares during the period. 96.79% of the stock is owned by hedge funds and other institutional investors.

About Dana

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