Short Interest in Dana Incorporated (NYSE:DAN) Drops By 9.7%

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

Hedge Funds Weigh In On Dana

Several hedge funds and other institutional investors have recently bought and sold shares of DAN. JB Capital Partners LP boosted its holdings in shares of Dana by 9.9% in the 3rd quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock valued at $14,880,000 after acquiring an additional 128,000 shares during the last quarter. Rhumbline Advisers boosted its holdings in Dana by 1.3% in the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after purchasing an additional 5,468 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Dana in the third quarter valued at $2,687,000. SG Americas Securities LLC grew its position in Dana by 81.8% during the 3rd quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock worth $615,000 after purchasing an additional 26,225 shares during the period. Finally, Martingale Asset Management L P purchased a new position in shares of Dana during the 3rd quarter valued at about $346,000. Institutional investors and hedge funds own 96.79% of the company’s stock.

Dana Stock Down 2.9 %

Dana stock traded down $0.23 during midday trading on Tuesday, hitting $7.76. 115,633 shares of the company’s stock were exchanged, compared to its average volume of 1,393,568. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.86 and a current ratio of 1.49. The firm has a 50-day moving average of $9.87 and a two-hundred day moving average of $11.42. Dana has a 12 month low of $7.58 and a 12 month high of $15.07. The company has a market cap 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 (NYSE:DAN) last announced its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts expect that Dana will post 0.85 earnings per share for the current fiscal year.

Dana Dividend Announcement

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

Analyst Ratings Changes

DAN has been the subject of several research reports. StockNews.com lowered shares of Dana from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.00 price objective on shares of Dana in a research note on Tuesday, September 10th. Wolfe Research started coverage on Dana in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their price target on Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price objective on Dana from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.50.

Dana Company Profile

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.