Danaos Co. (NYSE:DAC) Shares Bought by National Bank of Canada FI

National Bank of Canada FI raised its position in Danaos Co. (NYSE:DAC) by 4.9% in the 3rd quarter, Holdings Channel reports. The fund owned 3,871 shares of the shipping company’s stock after acquiring an additional 182 shares during the period. National Bank of Canada FI’s holdings in Danaos were worth $336,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC purchased a new position in Danaos during the second quarter worth about $37,000. Farther Finance Advisors LLC acquired a new position in Danaos during the 3rd quarter worth approximately $53,000. Signaturefd LLC raised its stake in shares of Danaos by 21.4% during the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after buying an additional 122 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Danaos by 7,620.0% in the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock valued at $107,000 after buying an additional 1,143 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Danaos in the second quarter valued at approximately $111,000. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DAC. Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

Danaos Price Performance

Danaos stock opened at $79.21 on Monday. The firm has a market capitalization of $1.54 billion, a PE ratio of 2.74 and a beta of 1.49. Danaos Co. has a 52 week low of $67.79 and a 52 week high of $98.25. The firm’s 50-day simple moving average is $82.82 and its 200 day simple moving average is $84.96. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.86 by ($0.36). The business had revenue of $256.18 million during the quarter, compared to analysts’ expectations of $251.16 million. Danaos had a net margin of 56.16% and a return on equity of 16.68%. During the same period last year, the company earned $7.26 EPS. On average, equities research analysts predict that Danaos Co. will post 27.56 EPS for the current fiscal year.

Danaos Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Monday, November 25th. This is a boost from Danaos’s previous quarterly dividend of $0.80. Danaos’s dividend payout ratio is 11.76%.

Danaos Profile

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.