Dana Incorporated (NYSE:DAN) Sees Large Increase in Short Interest

Dana Incorporated (NYSE:DAN) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 5,110,000 shares, an increase of 6.2% from the September 15th total of 4,810,000 shares. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.6% of the shares of the company are short sold.

Dana Stock Performance

Shares of Dana stock traded down $0.09 on Thursday, reaching $11.10. 3,403,747 shares of the stock were exchanged, compared to its average volume of 1,285,329. The firm has a market capitalization of $1.61 billion, a PE ratio of 123.28, a PEG ratio of 0.62 and a beta of 2.28. Dana has a 1-year low of $9.16 and a 1-year high of $15.07. The business has a fifty day moving average price of $10.58 and a two-hundred day moving average price of $11.91. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55.

Dana (NYSE:DAN) last released its earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, research analysts anticipate that Dana will post 0.95 earnings per share for the current fiscal year.

Dana Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 9th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Friday, August 9th. Dana’s dividend payout ratio (DPR) is currently 444.44%.

Hedge Funds Weigh In On Dana

An institutional investor recently raised its position in Dana stock. Rhumbline Advisers increased its position in shares of Dana Incorporated (NYSE:DAN) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 426,586 shares of the auto parts company’s stock after purchasing an additional 5,468 shares during the quarter. Rhumbline Advisers owned 0.29% of Dana worth $5,170,000 as of its most recent filing with the SEC. 96.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group decreased their price target on shares of Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com downgraded shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on Dana from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $12.00 price objective on shares of Dana in a research note on Tuesday, September 10th. Finally, Barclays lowered their target price on Dana from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Dana presently has an average rating of “Hold” and an average price target of $13.67.

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.