Dana Incorporated (NYSE:DAN) Short Interest Down 7.8% in August

Dana Incorporated (NYSE:DAN) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 4,940,000 shares, a drop of 7.8% from the July 31st total of 5,360,000 shares. Based on an average trading volume of 1,100,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 3.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DAN. JPMorgan Chase & Co. cut their price objective on shares of Dana from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Barclays increased their price objective on Dana from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Dana from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. UBS Group lowered their price objective on shares of Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company raised their target price on Dana from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Dana presently has an average rating of “Moderate Buy” and an average target price of $15.20.

Dana Price Performance

DAN opened at $10.87 on Wednesday. The company’s 50-day simple moving average is $11.44 and its two-hundred day simple moving average is $12.34. Dana has a 52-week low of $10.09 and a 52-week high of $16.29. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.90 and a current ratio of 1.48. The stock has a market capitalization of $1.58 billion, a P/E ratio of 120.78 and a beta of 2.33.

Dana (NYSE:DAN) last posted its earnings results on Wednesday, July 31st. The auto parts company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.76 billion. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS. As a group, analysts predict that Dana will post 0.9 EPS for the current year.

Dana Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were given a $0.10 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a yield of 3.68%. Dana’s dividend payout ratio is presently 444.44%.

Institutional Trading of Dana

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in shares of Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after buying an additional 5,468 shares during the period. SG Americas Securities LLC purchased a new position in Dana in the second quarter valued at about $388,000. Great Lakes Advisors LLC grew its stake in Dana by 89.5% in the fourth quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock valued at $1,841,000 after purchasing an additional 59,502 shares during the last quarter. Finally, Cibc World Markets Corp grew its stake in Dana by 46.0% in the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after purchasing an additional 375,000 shares during the last quarter. 96.79% of the stock is currently owned by 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.