Traders Purchase High Volume of Put Options on Dana (NYSE:DAN)

Dana Incorporated (NYSE:DAN) saw unusually large options trading activity on Tuesday. Stock traders acquired 3,947 put options on the stock. This is an increase of approximately 286% compared to the average volume of 1,022 put options.

Dana Price Performance

Shares of Dana stock opened at $13.21 on Wednesday. The firm has a market cap of $1.93 billion, a PE ratio of -33.88, a P/E/G ratio of 0.72 and a beta of 2.42. Dana has a twelve month low of $7.58 and a twelve month high of $16.90. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 1.71. The business has a 50-day moving average price of $15.00 and a 200 day moving average price of $12.18.

Dana (NYSE:DAN) last posted its quarterly earnings data on Thursday, February 20th. The auto parts company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.15. Dana had a positive return on equity of 6.70% and a negative net margin of 0.55%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Sell-side analysts predict that Dana will post 1.5 earnings per share for the current fiscal year.

Dana Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, February 28th. Dana’s payout ratio is -102.56%.

Wall Street Analysts Forecast Growth

DAN has been the topic of several research reports. Wells Fargo & Company raised Dana from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $10.00 to $16.00 in a research report on Monday, January 27th. UBS Group increased their price objective on Dana from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barclays lifted their target price on Dana from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Dana from a “hold” rating to a “buy” rating and increased their price target for the stock from $9.00 to $19.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Dana from $14.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Institutional Trading of Dana

Institutional investors have recently modified their holdings of the stock. Great Lakes Advisors LLC lifted its stake in Dana by 103.6% in the 4th quarter. Great Lakes Advisors LLC now owns 280,798 shares of the auto parts company’s stock valued at $3,246,000 after buying an additional 142,850 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Dana by 2.0% during the fourth quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company’s stock valued at $657,000 after acquiring an additional 1,130 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Dana by 118.3% in the fourth quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 1,464 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Dana by 484.6% in the fourth quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 2,234 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Dana in the fourth quarter worth approximately $9,498,000. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.