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

Dana Incorporated (NYSE:DAN) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,290,000 shares, a drop of 9.7% from the October 15th total of 4,750,000 shares. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 3.0% of the shares of the company are sold short.

Dana Price Performance

Shares of NYSE DAN traded down $0.23 during midday trading on Tuesday, hitting $7.76. The stock had a trading volume of 115,633 shares, compared to its average volume of 1,393,568. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 1.58. The stock has a 50 day simple moving average of $9.87 and a 200-day simple moving average of $11.42. The company has a market capitalization of $1.13 billion, a PE ratio of -72.68, a P/E/G ratio of 0.79 and a beta of 2.30. Dana has a 1 year low of $7.58 and a 1 year high of $15.07.

Dana (NYSE:DAN) last announced its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the business posted $0.30 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, sell-side analysts expect that Dana will post 0.85 EPS for the current fiscal year.

Dana Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.15%. Dana’s dividend payout ratio (DPR) is presently -363.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays decreased their target price on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target on Dana from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, October 31st. Wolfe Research began coverage on Dana in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $12.00 target price on shares of Dana in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Dana from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

Institutional Investors Weigh In On Dana

Several hedge funds and other institutional investors have recently made changes to their positions in DAN. Entropy Technologies LP purchased a new stake in Dana in the 3rd quarter valued at $250,000. SG Americas Securities LLC acquired a new position in shares of Dana during the 2nd quarter valued at about $388,000. Martingale Asset Management L P purchased a new stake in shares of Dana in the third quarter valued at about $346,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Dana in the third quarter valued at about $2,687,000. Finally, Rhumbline Advisers increased its position in Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after purchasing an additional 5,468 shares during the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.