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

Dana Incorporated (NYSE:DAN) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 4,880,000 shares, a growth of 8.9% from the November 30th total of 4,480,000 shares. Based on an average daily volume of 2,380,000 shares, the short-interest ratio is presently 2.1 days. Currently, 3.8% of the company’s stock are sold short.

Institutional Investors Weigh In On Dana

Several large investors have recently made changes to their positions in DAN. Entropy Technologies LP acquired a new stake in shares of Dana in the third quarter valued at approximately $250,000. Martingale Asset Management L P acquired a new position in shares of Dana during the third quarter valued at approximately $346,000. SG Americas Securities LLC boosted its holdings in Dana by 81.8% during the third quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock worth $615,000 after buying an additional 26,225 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Dana during the third quarter worth approximately $2,687,000. Finally, Rhumbline Advisers boosted its holdings 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 buying an additional 5,468 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DAN. Wolfe Research began coverage on shares of Dana in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Barclays raised shares of Dana from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $12.00 to $18.00 in a research report on Monday, December 2nd. BNP Paribas raised shares of Dana from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $9.00 to $16.00 in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised shares of Dana from a “hold” rating to a “buy” rating and increased their price target for the stock from $9.00 to $19.00 in a research report on Monday, December 9th. Finally, StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Dana presently has an average rating of “Hold” and an average target price of $15.29.

Dana Stock Performance

Shares of NYSE DAN opened at $11.56 on Thursday. 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 firm’s 50-day moving average price is $10.31 and its two-hundred day moving average price is $10.85. Dana has a 52-week low of $7.58 and a 52-week high of $14.89. The stock has a market capitalization of $1.68 billion, a P/E ratio of -105.08, a P/E/G ratio of 1.26 and a beta of 2.36.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $2.57 billion. During the same quarter in the previous year, the business posted $0.30 EPS. Dana’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Dana will post 0.85 earnings per share for the current year.

Dana Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 8th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 3.46%. Dana’s payout ratio is currently -363.64%.

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.