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

Dana Incorporated (NYSE:DAN - Get Free Report) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 5,480,000 shares, an increase of 18.1% from the January 15th total of 4,640,000 shares. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is currently 2.7 days. Approximately 4.2% of the company's stock are sold short.

Dana Stock Performance

Shares of NYSE:DAN traded down $0.49 during trading on Wednesday, hitting $16.40. 2,168,249 shares of the stock were exchanged, compared to its average volume of 1,652,880. Dana has a 1-year low of $7.58 and a 1-year high of $16.89. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -149.03, a price-to-earnings-growth ratio of 0.73 and a beta of 2.33. The company's fifty day simple moving average is $13.57 and its 200-day simple moving average is $11.40. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.86 and a current ratio of 1.49.

Dana Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 28th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.44%. Dana's dividend payout ratio (DPR) is presently -363.60%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DAN. Barclays increased their price objective on Dana from $18.00 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. BNP Paribas raised Dana from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $9.00 to $16.00 in a research note on Tuesday, December 3rd. UBS Group raised their price target on Dana from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft raised Dana from a "hold" rating to a "buy" rating and raised their price target for the stock from $9.00 to $19.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their price target on Dana from $14.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.86.

Hedge Funds Weigh In On Dana

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Yousif Capital Management LLC lifted its position in shares of Dana by 2.0% during the 4th quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company's stock worth $657,000 after buying an additional 1,130 shares during the period. GAMMA Investing LLC lifted its position in shares of Dana by 118.3% during the 4th quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company's stock worth $31,000 after buying an additional 1,464 shares during the period. Versant Capital Management Inc lifted its position in shares of Dana by 484.6% during the 4th quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company's stock worth $31,000 after buying an additional 2,234 shares during the period. State of Tennessee Department of Treasury lifted its position in shares of Dana by 6.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company's stock worth $627,000 after buying an additional 3,368 shares during the period. Finally, Sterling Capital Management LLC lifted its position in shares of Dana by 829.3% during the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company's stock worth $48,000 after buying an additional 3,732 shares during the period. Institutional investors 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.