Dana Incorporated (NYSE:DAN) Short Interest Down 9.7% in October

Dana Incorporated (NYSE:DAN) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 4,290,000 shares, a decline of 9.7% from the October 15th total of 4,750,000 shares. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 3.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DAN. JB Capital Partners LP grew its position in shares of Dana by 9.9% in the 3rd quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock valued at $14,880,000 after purchasing an additional 128,000 shares during the period. Rhumbline Advisers lifted its stake in Dana by 1.3% in the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after acquiring an additional 5,468 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Dana during the third quarter worth about $2,687,000. SG Americas Securities LLC increased its holdings in shares of Dana by 81.8% during the 3rd quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock worth $615,000 after acquiring an additional 26,225 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new position in shares of Dana in the third quarter valued at $346,000. Institutional investors and hedge funds own 96.79% of the company’s stock.

Dana Stock Down 1.7 %

NYSE DAN opened at $8.00 on Tuesday. The stock has a fifty day moving average of $9.87 and a 200-day moving average of $11.42. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.86. Dana has a 52 week low of $7.58 and a 52 week high of $15.07.

Dana (NYSE:DAN) last issued its 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). The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. Analysts forecast that Dana will post 0.85 EPS for the current year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s dividend payout ratio (DPR) is currently -363.60%.

Analyst Ratings Changes

A number of brokerages have commented on DAN. JPMorgan Chase & Co. cut their price target on shares of Dana from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Barclays cut their target price on Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Wolfe Research began coverage on Dana in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.00 target price on shares of Dana in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.