Short Interest in Dana Incorporated (NYSE:DAN) Increases By 40.0%

Dana Incorporated (NYSE:DAN) was the target 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. Currently, 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 2,340,000 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On Dana

Hedge funds have recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in Dana in the third quarter valued at approximately $250,000. Martingale Asset Management L P bought a new position in shares of Dana in the 3rd quarter worth $346,000. SG Americas Securities LLC bought a new position in shares of Dana in the second quarter valued at approximately $388,000. Segall Bryant & Hamill LLC purchased a new position in Dana during the third quarter worth about $2,687,000. Finally, Rhumbline Advisers lifted its position 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 buying an additional 5,468 shares in the last quarter. 96.79% of the stock is owned by institutional investors.

Dana Stock Up 1.2 %

NYSE DAN traded up $0.15 on Friday, hitting $12.67. 850,870 shares of the company were exchanged, compared to its average volume of 1,508,480. The firm has a 50 day moving average of $10.02 and a two-hundred day moving average of $11.04. Dana has a 1-year low of $7.58 and a 1-year high of $15.07. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 1.58.

Dana (NYSE:DAN) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (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 company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, research analysts expect that Dana will post 0.85 EPS for the current year.

Dana Dividend Announcement

The company also recently declared 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 of this dividend was Friday, November 8th. This represents a $0.40 annualized dividend and a yield of 3.16%. Dana’s dividend payout ratio (DPR) is presently -363.60%.

Analyst Ratings Changes

Several equities analysts have recently commented on DAN shares. Wolfe Research initiated coverage on shares of Dana in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Dana from a “hold” rating to a “buy” rating and increased their target price for the stock from $9.00 to $19.00 in a report on Monday. BNP Paribas raised Dana from a “neutral” rating to an “outperform” rating and upped their target price for the company from $9.00 to $16.00 in a report on Tuesday, December 3rd. Barclays raised shares of Dana from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $12.00 to $18.00 in a research note on Monday, December 2nd. Finally, StockNews.com lowered shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Dana has a consensus rating of “Hold” and an average price target of $14.86.

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.