Boosted by news of an expanded stock buyback, Dana Holding Corp. closed the week at an all-time high.
Shares of the Maumee-based supplier of axles, driveshafts, and other auto components briefly hit $21.82 in midday trading before closing at $21.06, up about 5 percent for the day.
That’s both the highest intraday price and highest close for Dana since the company re-emerged from bankruptcy protection in February, 2008.
The company announced in October it would spend up to $250 million to repurchase shares of its stock. On June 28, it announced it was expanding buyback to up to $1 billion. Since the announcement, Dana has gained almost 16 percent.
On the year, shares of Dana are up 35 percent.