616 Shares in Danaos Co. (NYSE:DAC) Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC purchased a new position in shares of Danaos Co. (NYSE:DAC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 616 shares of the shipping company’s stock, valued at approximately $53,000.

A number of other large investors have also bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in Danaos by 33.5% during the 2nd quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company’s stock worth $72,823,000 after buying an additional 197,904 shares in the last quarter. Gordian Capital Singapore Pte Ltd lifted its holdings in Danaos by 17,600,000.0% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock worth $16,255,000 after buying an additional 176,000 shares in the last quarter. Sei Investments Co. acquired a new position in Danaos during the 1st quarter worth $1,484,000. TrueMark Investments LLC acquired a new position in Danaos during the 2nd quarter worth $1,734,000. Finally, Marshall Wace LLP acquired a new position in Danaos during the 2nd quarter worth $1,250,000. 19.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 price objective on shares of Danaos in a report on Tuesday. StockNews.com downgraded Danaos from a “buy” rating to a “hold” rating in a report on Tuesday.

Danaos Stock Performance

Shares of Danaos stock opened at $86.13 on Thursday. The company has a market capitalization of $1.67 billion, a PE ratio of 2.98 and a beta of 1.47. Danaos Co. has a 12 month low of $64.96 and a 12 month high of $98.25. The company has a current ratio of 4.18, a quick ratio of 4.04 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $82.71 and its 200 day simple moving average is $85.13.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36). The business had revenue of $256.18 million for the quarter, compared to analyst estimates of $251.16 million. Danaos had a return on equity of 17.00% and a net margin of 56.16%. During the same period in the previous year, the business posted $7.26 EPS. On average, research analysts predict that Danaos Co. will post 28.01 EPS for the current year.

Danaos Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from Danaos’s previous quarterly dividend of $0.80. Danaos’s dividend payout ratio is 11.07%.

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.