Dana Incorporated (NYSE:DAN – Get Rating) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 4,050,000 shares, a decrease of 10.6% from the August 15th total of 4,530,000 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is presently 3.6 days.
Dana Price Performance
NYSE DAN traded down $1.11 during trading hours on Tuesday, reaching $13.76. 1,666,482 shares of the stock traded hands, compared to its average volume of 1,333,940. The stock has a 50 day simple moving average of $15.74 and a two-hundred day simple moving average of $15.76. Dana has a 1 year low of $13.06 and a 1 year high of $25.59. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.52 and a quick ratio of 0.91. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 19.94 and a beta of 2.25.
Get Dana alerts:Dana (NYSE:DAN – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The auto parts company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.13). Dana had a net margin of 1.03% and a return on equity of 4.89%. The firm had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.45 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The company's revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts predict that Dana will post 0.74 EPS for the current fiscal year.
Dana Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.91%. Dana's dividend payout ratio (DPR) is currently 57.97%.Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of DAN. Pzena Investment Management LLC grew its stake in shares of Dana by 45.3% in the first quarter. Pzena Investment Management LLC now owns 4,865,525 shares of the auto parts company's stock worth $85,487,000 after purchasing an additional 1,516,687 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Dana by 90.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,769,847 shares of the auto parts company's stock valued at $24,900,000 after acquiring an additional 842,703 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Dana by 9.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,612,318 shares of the auto parts company's stock valued at $63,468,000 after acquiring an additional 316,466 shares in the last quarter. Kennedy Capital Management Inc. boosted its position in Dana by 38.9% during the 2nd quarter. Kennedy Capital Management Inc. now owns 649,071 shares of the auto parts company's stock valued at $9,132,000 after acquiring an additional 181,835 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Dana by 206.0% during the 2nd quarter. SG Americas Securities LLC now owns 104,643 shares of the auto parts company's stock valued at $1,472,000 after acquiring an additional 70,450 shares in the last quarter. 95.98% of the stock is owned by institutional investors.
Analysts Set New Price Targets
DAN has been the subject of several research reports. Royal Bank of Canada increased their price objective on Dana from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Thursday, August 4th. Wells Fargo & Company increased their target price on Dana from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded Dana from a "buy" rating to a "hold" rating and dropped their target price for the stock from $18.00 to $15.00 in a research report on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $16.25.
Dana Company Profile
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Dana Incorporated provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. It operates in four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.
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