Short Interest in Dana Incorporated (NYSE:DAN) Decreases By 7.0%

Dana Incorporated (NYSE:DAN) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 4,750,000 shares, a decline of 7.0% from the September 30th total of 5,110,000 shares. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is currently 3.1 days. Currently, 3.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wolfe Research began coverage on shares of Dana in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. cut their price target on shares of Dana from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wells Fargo & Company reduced their price objective on Dana from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Barclays dropped their price objective on Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.83.

Dana Stock Performance

DAN traded down $0.73 during trading on Thursday, hitting $7.67. The stock had a trading volume of 4,913,459 shares, compared to its average volume of 1,366,186. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.48 and a quick ratio of 0.90. The company has a 50 day moving average price of $10.49 and a 200-day moving average price of $11.76. Dana has a one year low of $7.63 and a one year high of $15.07. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -767.00, a P/E/G ratio of 0.62 and a beta of 2.28.

Dana (NYSE:DAN) last announced its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. As a group, research analysts predict that Dana will post 0.95 EPS for the current year.

Dana Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s dividend payout ratio (DPR) is currently -4,000.00%.

Hedge Funds Weigh In On Dana

An institutional investor recently bought a new position in Dana stock. SG Americas Securities LLC purchased a new position in Dana Incorporated (NYSE:DAN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,049 shares of the auto parts company’s stock, valued at approximately $388,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

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.