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

Dana Incorporated (NYSE:DAN) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 4,810,000 shares, a decrease of 6.1% from the August 31st total of 5,120,000 shares. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is currently 4.2 days. Currently, 3.4% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group dropped their price objective on Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company lowered Dana from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $13.00 to $9.00 in a report on Friday, September 20th. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $12.00 target price on shares of Dana in a research report on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on shares of Dana in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dana presently has an average rating of “Hold” and a consensus target price of $14.00.

Dana Stock Performance

Dana stock opened at $10.72 on Monday. The firm has a fifty day simple moving average of $10.79 and a two-hundred day simple moving average of $12.05. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55. Dana has a twelve month low of $9.16 and a twelve month high of $15.07. The company has a market capitalization of $1.55 billion, a PE ratio of 121.33, a P/E/G ratio of 0.53 and a beta of 2.29.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The business 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 business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. Research analysts expect that Dana will post 0.98 EPS for the current year.

Dana Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 9th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, August 9th. Dana’s payout ratio is 444.44%.

Institutional Investors Weigh In On Dana

A number of large investors have recently made changes to their positions in DAN. Cibc World Markets Corp grew its stake in Dana by 46.0% in the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after purchasing an additional 375,000 shares during the period. Rhumbline Advisers increased its stake in shares of Dana by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after acquiring an additional 5,468 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Dana during the 2nd quarter valued at about $388,000. 96.79% of the stock is currently owned by institutional investors.

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.