Dana Incorporated (NYSE:DAN) Sees Significant Growth in Short Interest

Dana Incorporated (NYSE:DAN) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 5,420,000 shares, a growth of 12.2% from the October 15th total of 4,830,000 shares. Based on an average trading volume of 1,260,000 shares, the short-interest ratio is presently 4.3 days. Currently, 3.8% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on Dana from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 3rd. Oppenheimer decreased their target price on Dana from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. JPMorgan Chase & Co. upped their price target on Dana from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, July 20th. UBS Group began coverage on shares of Dana in a research note on Tuesday, September 12th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, StockNews.com downgraded shares of Dana from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.43.

Dana Stock Up 2.4 %

NYSE DAN traded up $0.30 during trading hours on Friday, reaching $12.99. 852,649 shares of the company’s stock were exchanged, compared to its average volume of 1,299,792. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.94 and a current ratio of 1.58. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -18.00 and a beta of 2.50. The company’s 50-day moving average is $13.48 and its two-hundred day moving average is $15.10. Dana has a one year low of $11.10 and a one year high of $19.75.

Dana (NYSE:DAN) last released its quarterly earnings results on Friday, October 27th. The auto parts company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.20. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Dana had a negative net margin of 0.96% and a positive return on equity of 7.16%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. On average, analysts forecast that Dana will post 0.78 EPS for the current fiscal year.

Dana Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a $0.10 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.08%. Dana’s dividend payout ratio (DPR) is -55.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc bought a new stake in Dana in the 2nd quarter valued at approximately $26,000. Captrust Financial Advisors boosted its holdings in Dana by 121.5% during the second quarter. Captrust Financial Advisors now owns 5,502 shares of the auto parts company’s stock worth $77,000 after purchasing an additional 3,018 shares during the last quarter. Essex Investment Management Co. LLC grew its position in Dana by 15.7% in the first quarter. Essex Investment Management Co. LLC now owns 7,866 shares of the auto parts company’s stock valued at $118,000 after purchasing an additional 1,068 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new stake in Dana in the 2nd quarter valued at $189,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Dana during the 3rd quarter worth about $335,000. 96.60% of the stock is owned by institutional investors and hedge funds.

About Dana

Dana Incorporated provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. It operates in four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.