Dana Incorporated (NYSE:DAN) Short Interest Update

Dana Incorporated (NYSE:DAN) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 4,750,000 shares, a decrease of 7.0% from the September 30th total of 5,110,000 shares. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 3.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Dana stock. SG Americas Securities LLC raised its position in Dana Incorporated (NYSE:DAN) by 81.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,274 shares of the auto parts company’s stock after purchasing an additional 26,225 shares during the quarter. SG Americas Securities LLC’s holdings in Dana were worth $615,000 at the end of the most recent quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

Dana Stock Performance

Shares of DAN traded down $0.73 during mid-day trading on Thursday, hitting $7.67. The stock had a trading volume of 4,913,459 shares, compared to its average volume of 1,366,186. The company’s fifty day simple moving average is $10.49 and its two-hundred day simple moving average is $11.76. Dana has a fifty-two week low of $7.63 and a fifty-two week high of $15.07. The company has a market cap of $1.11 billion, a PE ratio of -767.00, a PEG ratio of 0.62 and a beta of 2.28. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55.

Dana (NYSE:DAN) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.57 billion. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. On average, equities analysts expect that Dana will post 0.95 earnings per share for the current year.

Dana Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s dividend payout ratio is presently -4,000.00%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group lowered their price objective on shares of Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays lowered their target price on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Wells Fargo & Company cut their price target on shares of Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $12.00 price objective on shares of Dana in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. dropped their target price on Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Dana has a consensus rating of “Hold” and a consensus price target of $12.83.

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.