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

Dana Incorporated (NYSE:DAN) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 4,480,000 shares, an increase of 40.0% from the November 15th total of 3,200,000 shares. Based on an average trading volume of 2,340,000 shares, the short-interest ratio is currently 1.9 days. Approximately 3.5% of the company’s stock are sold short.

Institutional Trading of Dana

Several hedge funds have recently added to or reduced their stakes in DAN. Entropy Technologies LP acquired a new stake in shares of Dana during the 3rd quarter worth approximately $250,000. Martingale Asset Management L P bought a new position in Dana in the third quarter worth $346,000. SG Americas Securities LLC acquired a new stake in Dana during the second quarter worth $388,000. Segall Bryant & Hamill LLC bought a new stake in Dana in the 3rd quarter valued at $2,687,000. Finally, Rhumbline Advisers raised 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 valued at $5,170,000 after buying an additional 5,468 shares in the last quarter. Institutional investors own 96.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Dana from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Wolfe Research initiated coverage on shares of Dana in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft raised Dana from a “hold” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $19.00 in a research report on Monday, December 9th. Wells Fargo & Company cut their price target on Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, October 31st. Finally, BNP Paribas raised Dana from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $16.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.86.

Dana Stock Performance

DAN traded up $0.16 on Friday, hitting $12.68. The company had a trading volume of 1,894,064 shares, compared to its average volume of 1,512,219. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -115.27, a price-to-earnings-growth ratio of 1.26 and a beta of 2.36. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.86. The company’s fifty day moving average price is $10.05 and its 200 day moving average price is $11.01. Dana has a 1-year low of $7.58 and a 1-year high of $15.07.

Dana (NYSE:DAN) last issued its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share 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 analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Dana’s quarterly revenue was down 7.2% compared to the same quarter last year. Equities analysts predict that Dana will post 0.85 earnings per share for the current fiscal year.

Dana Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 8th were paid a $0.10 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.15%. Dana’s payout ratio is presently -363.64%.

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.