Stock Traders Purchase Large Volume of Call Options on Dana (DAN)

Dana Inc (NYSE:DAN) saw some unusual options trading activity on Wednesday. Investors purchased 20,472 call options on the stock. This represents an increase of 4,429% compared to the typical volume of 452 call options.

DAN opened at $14.91 on Friday. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 1.64 and a beta of 1.88. Dana has a 1-year low of $13.76 and a 1-year high of $35.27. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.65 and a quick ratio of 1.04.

Dana (NYSE:DAN) last posted its quarterly earnings results on Monday, October 29th. The auto parts company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. Dana had a net margin of 2.79% and a return on equity of 34.30%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Equities research analysts anticipate that Dana will post 2.93 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 9th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.68%. Dana’s dividend payout ratio is 15.87%.

Several brokerages recently issued reports on DAN. Zacks Investment Research lowered shares of Dana from a “hold” rating to a “strong sell” rating in a research report on Monday, July 30th. Royal Bank of Canada reiterated a “buy” rating and issued a $30.00 price target on shares of Dana in a research report on Tuesday, July 17th. Stephens reiterated a “hold” rating and issued a $23.00 price target on shares of Dana in a research report on Wednesday, August 1st. Buckingham Research dropped their price target on shares of Dana from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, July 26th. Finally, Barclays upgraded shares of Dana from an “equal weight” rating to an “overweight” rating and set a $30.00 price target for the company in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.80.

Several large investors have recently modified their holdings of DAN. Principal Financial Group Inc. boosted its position in shares of Dana by 7.4% during the first quarter. Principal Financial Group Inc. now owns 1,027,760 shares of the auto parts company’s stock worth $26,475,000 after acquiring an additional 70,655 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Dana by 21.0% during the second quarter. Xact Kapitalforvaltning AB now owns 21,890 shares of the auto parts company’s stock worth $442,000 after acquiring an additional 3,800 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Dana during the second quarter worth $869,000. Amalgamated Bank boosted its position in shares of Dana by 13.9% during the second quarter. Amalgamated Bank now owns 23,661 shares of the auto parts company’s stock worth $478,000 after acquiring an additional 2,885 shares during the last quarter. Finally, Foster & Motley Inc. bought a new position in shares of Dana during the second quarter worth $680,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

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Dana Company Profile

Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.

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