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Published: Saturday, 7/6/2013 - Updated: 1 year ago

BUSINESS BRIEF

Dana Holding Corp.
 shares hit high point

BLADE STAFF

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.



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