Dana Incorporated (NYSE:DAN – Get Rating) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 3,500,000 shares, a decrease of 19.9% from the September 15th total of 4,370,000 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 2.9 days. Approximately 2.5% of the company’s shares are sold short.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on DAN shares. Royal Bank of Canada upped their price objective on Dana from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Wells Fargo & Company upped their price objective on Dana from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft lowered Dana from a “buy” rating to a “hold” rating and dropped their target price for the company from $18.00 to $15.00 in a report on Thursday, August 4th. Finally, StockNews.com began coverage on Dana in a report on Wednesday. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.25.
Institutional Investors Weigh In On Dana
Several hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors boosted its stake in shares of Dana by 121.5% during the second quarter. Captrust Financial Advisors now owns 5,502 shares of the auto parts company’s stock worth $77,000 after buying an additional 3,018 shares during the period. Rhumbline Advisers boosted its stake in shares of Dana by 8.3% during the second quarter. Rhumbline Advisers now owns 463,216 shares of the auto parts company’s stock worth $6,517,000 after buying an additional 35,669 shares during the period. Kennedy Capital Management Inc. boosted its stake in shares of Dana by 38.9% during the second quarter. Kennedy Capital Management Inc. now owns 649,071 shares of the auto parts company’s stock worth $9,132,000 after buying an additional 181,835 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Dana by 19.2% during the second quarter. Pzena Investment Management LLC now owns 5,798,157 shares of the auto parts company’s stock worth $81,580,000 after buying an additional 932,632 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Dana by 631.2% during the second quarter. US Bancorp DE now owns 6,266 shares of the auto parts company’s stock worth $88,000 after buying an additional 5,409 shares during the period. Institutional investors and hedge funds own 95.98% of the company’s stock.
Dana Stock Performance
NYSE DAN traded down $0.30 during trading hours on Friday, hitting $12.12. The company had a trading volume of 1,211,547 shares, compared to its average volume of 1,751,380. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 1.52. Dana has a 1-year low of $11.17 and a 1-year high of $25.59. The company has a market cap of $1.74 billion, a PE ratio of 17.57 and a beta of 2.27. The business has a 50 day moving average of $14.57 and a 200-day moving average of $15.17.
Dana (NYSE:DAN – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The auto parts company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.13). Dana had a net margin of 1.03% and a return on equity of 4.89%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The business’s revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts expect that Dana will post 0.7 EPS for the current year.
Dana Dividend Announcement
The firm also recently announced 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 was Thursday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 3.30%. Dana’s dividend payout ratio (DPR) is 57.97%.
About Dana
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.
Further Reading
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