Natixis Advisors LLC Lowers Position in Danaos Co. (NYSE:DAC)

Natixis Advisors LLC decreased its holdings in shares of Danaos Co. (NYSE:DAC) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,793 shares of the shipping company’s stock after selling 169 shares during the period. Natixis Advisors LLC’s holdings in Danaos were worth $944,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in Danaos by 37.7% during the fourth 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 in the last quarter. Allworth Financial LP lifted its position in shares of Danaos by 340.1% during the fourth quarter. Allworth Financial LP now owns 1,941 shares of the shipping company’s stock valued at $149,000 after buying an additional 1,500 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of 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 buying an additional 451 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Danaos in the 3rd quarter worth approximately $205,000. Finally, Ballentine Partners LLC raised its stake in shares of Danaos by 18.1% during the 4th quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock worth $244,000 after acquiring an additional 467 shares in the last quarter. Institutional investors own 19.01% of the company’s stock.

Danaos Stock Down 0.3 %

DAC stock opened at $80.53 on Thursday. 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 Co. has a 52 week low of $71.32 and a 52 week high of $98.25. The stock has a market capitalization of $1.53 billion, a PE ratio of 3.11 and a beta of 1.41. The firm has a 50 day moving average of $80.33 and a 200 day moving average of $81.32.

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

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Monday, February 24th. Danaos’s dividend payout ratio is presently 13.12%.

Analyst Upgrades and Downgrades

DAC has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $105.00 target price on shares of Danaos in a research note on Tuesday, February 11th. StockNews.com upgraded Danaos from a “hold” rating to a “buy” rating in a research note 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.