Dana Holding Corp. (DAN) Shares Gap Up to $13.62
Dana Holding Corp. (NYSE:DAN) shares gapped up prior to trading on Wednesday . The stock had previously closed at $13.59, but opened at $13.62. Dana Holding Corp. shares last traded at $13.78, with a volume of 779,545 shares trading hands.
A number of research analysts recently commented on the company. Zacks Investment Research downgraded Dana Holding Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. FBR & Co reissued a “buy” rating and issued a $17.00 price target on shares of Dana Holding Corp. in a report on Friday, July 22nd. RBC Capital Markets reissued a “sector perform” rating and issued a $14.00 price target (up previously from $11.00) on shares of Dana Holding Corp. in a report on Sunday, July 24th. Finally, Royal Bank Of Canada upped their price objective on Dana Holding Corp. from $11.00 to $14.00 and gave the company a “sector perform” rating in a research note on Friday, July 22nd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.
The company has a market cap of $1.98 billion and a price-to-earnings ratio of 15.45. The firm has a 50 day moving average price of $12.07 and a 200 day moving average price of $12.41.
Dana Holding Corp. (NYSE:DAN) last posted its earnings results on Thursday, July 21st. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.07. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business earned $0.48 earnings per share. Dana Holding Corp.’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts predict that Dana Holding Corp. will post $1.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 19th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.24 annualized dividend and a yield of 1.74%.
A number of institutional investors recently bought and sold shares of DAN. CNA Financial Corp raised its position in Dana Holding Corp. by 8.4% in the fourth quarter. CNA Financial Corp now owns 92,624 shares of the company’s stock valued at $1,278,000 after buying an additional 7,150 shares during the period. Liberty Mutual Group Asset Management Inc. raised its position in Dana Holding Corp. by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 103,309 shares of the company’s stock valued at $1,425,000 after buying an additional 35,046 shares during the period. Bank of Montreal Can raised its position in Dana Holding Corp. by 433.1% in the fourth quarter. Bank of Montreal Can now owns 156,117 shares of the company’s stock valued at $2,154,000 after buying an additional 126,832 shares during the period. Weber Alan W raised its position in Dana Holding Corp. by 40.1% in the fourth quarter. Weber Alan W now owns 380,707 shares of the company’s stock valued at $5,254,000 after buying an additional 108,907 shares during the period. Finally, California Public Employees Retirement System raised its position in Dana Holding Corp. by 2.6% in the fourth quarter. California Public Employees Retirement System now owns 507,609 shares of the company’s stock valued at $7,005,000 after buying an additional 13,100 shares during the period.
Dana Holding Corporation is a global provider of high technology driveline, sealing and thermal-management products. The Company offers its products to vehicle manufacturers in the global light vehicle, medium/heavy vehicle and off-highway markets. It operates in four business 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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