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

Dana Incorporated (NYSE:DAN) was the recipient of a significant 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. Approximately 3.5% of the shares of the stock are short sold. Based on an average trading volume of 2,340,000 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in shares of Dana during the third quarter worth approximately $250,000. Martingale Asset Management L P acquired a new position in Dana during the 3rd quarter valued at $346,000. SG Americas Securities LLC bought a new stake in Dana in the 2nd quarter valued at $388,000. Segall Bryant & Hamill LLC acquired a new stake in Dana in the 3rd quarter worth $2,687,000. Finally, Rhumbline Advisers increased its holdings in shares of 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 purchasing an additional 5,468 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.

Dana Price Performance

Shares of DAN opened at $12.68 on Friday. 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 market cap of $1.84 billion, a PE ratio of -115.27, a PEG ratio of 1.26 and a beta of 2.36. The firm’s 50 day moving average price is $10.05 and its 200 day moving average price is $11.01. Dana has a twelve month low of $7.58 and a twelve month high of $15.07.

Dana (NYSE:DAN) last posted its earnings results 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). Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Dana will post 0.85 EPS for the current fiscal year.

Dana Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors 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 yield of 3.15%. Dana’s payout ratio is presently -363.64%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Dana from a “hold” rating to a “buy” rating and increased their price objective for the company from $9.00 to $19.00 in a research report on Monday, December 9th. 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. Barclays upgraded Dana from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $12.00 to $18.00 in a research report on Monday, December 2nd. StockNews.com downgraded Dana from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, BNP Paribas upgraded shares of Dana from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $9.00 to $16.00 in a report on Tuesday, December 3rd. One equities 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.86.

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.