Danaos Co. (NYSE:DAC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Danaos Co. (NYSE:DAC) by 49.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,067 shares of the shipping company’s stock after selling 16,705 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Danaos were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. National Bank of Canada FI raised its holdings in shares of Danaos by 4.9% in the third quarter. National Bank of Canada FI now owns 3,871 shares of the shipping company’s stock worth $336,000 after acquiring an additional 182 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Danaos by 37.7% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock valued at $117,000 after purchasing an additional 400 shares during the last quarter. Avior Wealth Management LLC raised its stake in Danaos by 24.1% in the 4th quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock valued at $186,000 after purchasing an additional 451 shares during the last quarter. Ballentine Partners LLC lifted its holdings in Danaos by 18.1% in the 4th quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock valued at $244,000 after purchasing an additional 467 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its stake in shares of Danaos by 5.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,258 shares of the shipping company’s stock worth $741,000 after purchasing an additional 485 shares during the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Danaos Stock Performance

NYSE DAC opened at $79.34 on Friday. The business’s 50-day moving average price is $80.38 and its 200 day moving average price is $81.36. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19. Danaos Co. has a twelve month low of $71.32 and a twelve month high of $98.25. The company has a market capitalization of $1.51 billion, a PE ratio of 3.06 and a beta of 1.41.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a net margin of 49.81% and a return on equity of 16.03%. On average, research analysts predict that Danaos Co. will post 29.21 earnings per share for the current year.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.85 dividend. The ex-dividend date was Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.29%. Danaos’s dividend payout ratio (DPR) is presently 13.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research report on Tuesday, February 11th. StockNews.com upgraded Danaos from a “hold” rating to a “buy” rating in a report on Monday, March 10th.

Danaos Company 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.