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

Dana Incorporated (NYSE:DAN) saw a large increase in short interest during the month of 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. Approximately 4.2% of the shares of the company are short sold. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is presently 2.7 days.

Hedge Funds Weigh In On Dana

Several institutional investors and hedge funds have recently modified their holdings of DAN. Loomis Sayles & Co. L P acquired a new stake in Dana in the 4th quarter valued at $9,498,000. JB Capital Partners LP lifted its holdings in Dana by 28.6% during the fourth quarter. JB Capital Partners LP now owns 1,832,293 shares of the auto parts company’s stock valued at $21,181,000 after purchasing an additional 407,000 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Dana in the third quarter valued at about $2,687,000. Great Lakes Advisors LLC increased its stake in shares of Dana by 103.6% during the fourth quarter. Great Lakes Advisors LLC now owns 280,798 shares of the auto parts company’s stock worth $3,246,000 after purchasing an additional 142,850 shares in the last quarter. Finally, Martingale Asset Management L P acquired a new position in shares of Dana during the 3rd quarter worth about $346,000. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Dana from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $19.00 in a research note on Monday, December 9th. Barclays boosted their price target on Dana from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on Dana from $14.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. UBS Group lifted their target price on Dana from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, BNP Paribas upgraded shares of Dana from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $9.00 to $16.00 in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.86.

Dana Stock Performance

Shares of DAN traded up $0.26 during trading hours on Friday, hitting $16.35. The stock had a trading volume of 1,128,420 shares, compared to its average volume of 1,819,092. The firm has a 50-day moving average price of $13.35 and a 200 day moving average price of $11.30. Dana has a fifty-two week low of $7.58 and a fifty-two week high of $16.86. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -148.58, a PEG ratio of 0.71 and a beta of 2.33. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 28th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, February 28th. Dana’s dividend payout ratio (DPR) is presently -363.60%.

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.