Dana Incorporated (NYSE:DAN) Short Interest Down 6.1% in September

Dana Incorporated (NYSE:DAN) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 4,810,000 shares, a drop of 6.1% from the August 31st total of 5,120,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the short-interest ratio is currently 4.2 days. Approximately 3.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of analysts have commented on DAN shares. JPMorgan Chase & Co. cut their price target on shares of Dana from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Barclays raised their target price on Dana from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. UBS Group dropped their price target on Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $12.00 price objective on shares of Dana in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company downgraded shares of Dana from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $13.00 to $9.00 in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.00.

Dana Stock Performance

DAN opened at $10.55 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55. The company’s fifty day moving average price is $10.76 and its two-hundred day moving average price is $12.04. Dana has a 1-year low of $9.16 and a 1-year high of $15.07. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 117.22, a PEG ratio of 0.53 and a beta of 2.29.

Dana (NYSE:DAN) last released its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.07. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, analysts expect that Dana will post 0.98 EPS for the current fiscal year.

Dana Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 9th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, August 9th. This represents a $0.40 annualized dividend and a yield of 3.79%. Dana’s payout ratio is 444.44%.

Institutional Trading of Dana

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew 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 worth $5,170,000 after acquiring an additional 5,468 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Dana in the 2nd quarter worth $388,000. Finally, Cibc World Markets Corp grew its stake in shares of Dana by 46.0% in the 4th quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after acquiring an additional 375,000 shares in the last quarter. Institutional investors own 96.79% of the company’s stock.

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.