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

Dana Incorporated (NYSE:DAN - Get Free Report) was the target of a significant decrease in short interest in 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 daily trading volume, of 1,770,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 3.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DAN shares. Barclays reduced their price objective on shares of Dana from $14.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Wolfe Research started coverage on Dana in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Wells Fargo & Company reduced their target price on Dana from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on Dana from $16.00 to $14.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Finally, StockNews.com downgraded shares of Dana from a "buy" rating to a "hold" rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $12.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Dana by 1.3% during 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 during the period. Entropy Technologies LP acquired a new position in shares of Dana in the 3rd quarter valued at $250,000. SG Americas Securities LLC increased its holdings 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 valued at $615,000 after purchasing an additional 26,225 shares in the last quarter. Martingale Asset Management L P bought a new position in Dana in the third quarter valued at about $346,000. Finally, JB Capital Partners LP grew its holdings in Dana by 9.9% during the third quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company's stock valued at $14,880,000 after purchasing an additional 128,000 shares during the period. Institutional investors own 96.79% of the company's stock.

Dana Price Performance

Shares of NYSE DAN traded down $0.09 during trading on Tuesday, hitting $7.90. The company had a trading volume of 691,146 shares, compared to its average volume of 1,396,137. 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 fifty day simple moving average of $9.87 and a two-hundred day simple moving average of $11.42. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -72.68, a price-to-earnings-growth ratio of 0.79 and a beta of 2.30. Dana has a fifty-two week low of $7.58 and a fifty-two week high of $15.07.

Dana (NYSE:DAN - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.57 billion. Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The firm's revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. On average, research analysts expect that Dana will post 0.85 earnings per share for the current year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Friday, November 8th. Dana's payout ratio is -363.60%.

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.