Blue Trust Inc. Raises Holdings in Danaos Co. (NYSE:DAC)

Blue Trust Inc. lifted its holdings in shares of Danaos Co. (NYSE:DAC) by 221.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,720 shares of the shipping company’s stock after purchasing an additional 2,562 shares during the period. Blue Trust Inc.’s holdings in Danaos were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Signaturefd LLC grew its holdings in shares of Danaos by 21.4% in the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after acquiring an additional 122 shares during the period. National Bank of Canada FI grew its holdings in shares of Danaos by 7.5% in the 2nd quarter. National Bank of Canada FI now owns 3,689 shares of the shipping company’s stock worth $339,000 after acquiring an additional 257 shares during the period. nVerses Capital LLC grew its holdings in shares of Danaos by 75.0% in the 3rd quarter. nVerses Capital LLC now owns 700 shares of the shipping company’s stock worth $61,000 after acquiring an additional 300 shares during the period. Tidal Investments LLC grew its holdings in shares of Danaos by 3.3% in the 1st quarter. Tidal Investments LLC now owns 11,905 shares of the shipping company’s stock worth $860,000 after acquiring an additional 382 shares during the period. Finally, Morgan Dempsey Capital Management LLC grew its holdings in shares of Danaos by 12.1% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 3,811 shares of the shipping company’s stock worth $352,000 after acquiring an additional 411 shares during the period. 19.01% of the stock is owned by hedge funds and other institutional investors.

Danaos Stock Performance

DAC opened at $81.82 on Thursday. The stock has a market cap of $1.59 billion, a P/E ratio of 2.78 and a beta of 1.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.18 and a quick ratio of 4.04. The stock’s 50 day simple moving average is $82.79 and its 200 day simple moving average is $84.20. Danaos Co. has a 1-year low of $62.37 and a 1-year high of $98.25.

Danaos (NYSE:DAC) last announced its earnings results on Monday, August 5th. The shipping company reported $6.78 EPS for the quarter, missing analysts’ consensus estimates of $7.04 by ($0.26). The company had revenue of $246.31 million for the quarter, compared to analyst estimates of $238.83 million. Danaos had a net margin of 58.15% and a return on equity of 17.88%. During the same quarter last year, the company posted $7.14 EPS. As a group, equities analysts anticipate that Danaos Co. will post 28.43 EPS for the current fiscal year.

Danaos Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is presently 10.86%.

About Danaos

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.