2 weeks Ago By Defense World Staff
Wells Fargo & Company MN increased its stake in shares of Danaos Co. ( NYSE:DAC – Free Report ) by 31.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The fund owned 28,382 shares of the shipping company’s stock after buying an additional 6,804 shares during the quarter. Wells Fargo & Company MN owned about 0.15% of Danaos worth $2,273,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new stake in shares of Danaos in the 4th quarter worth about $32,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Danaos by 18.
1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 314,787 shares of the shipping company’s stock valued at $25,205,000 after purchasing an additional 48,155 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Danaos during the fourth quarter valued at approximately $87,000.
JPMorgan Chase & Co. boosted its position in shares of Danaos by 71.8% during the fourth quarter.
JPMorgan Chase & Co. now owns 51,291 shares of the shipping company’s stock worth $4,107,000 after buying an additional 21,430 shares during the period. Finally, TrueMark Investments LLC grew its holdings in Danaos by 252.
9% in the 4th quarter. TrueMark Investments LLC now owns 65,485 shares of the shipping company’s stock worth $5,243,000 after buying an additional 46,930 shares in the last quarter. 19.
01% of the stock is owned by institutional investors and hedge funds. Analyst Ratings Changes DAC has been the topic of several recent analyst reports. StockNews.
com raised Danaos from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Danaos in a report on Tuesday, February 11th.
Danaos Price Performance NYSE DAC opened at $80.66 on Friday. The firm has a market capitalization of $1.
53 billion, a PE ratio of 3.11 and a beta of 1.32.
The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.
78. Danaos Co. has a 12 month low of $65.
40 and a 12 month high of $98.25. The company’s 50 day simple moving average is $78.
07 and its 200 day simple moving average is $80.06. Danaos ( NYSE:DAC – Get Free Report ) 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 return on equity of 16.03% and a net margin of 49.
81%. As a group, equities research analysts forecast that Danaos Co. will post 29.
21 EPS for the current fiscal year. Danaos announced that its board has approved a share repurchase program on Monday, April 14th that allows the company to repurchase $100.00 million in outstanding shares.
This repurchase authorization allows the shipping company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Danaos Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.85 per share.
The ex-dividend date was Monday, February 24th. This represents a $3.40 annualized dividend and a dividend yield of 4.
22%. Danaos’s dividend payout ratio (DPR) is 13.12%.
Danaos Company Profile ( Free Report ) 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.
Read More Five stocks we like better than Danaos What Are the FAANG Stocks and Are They Good Investments? Short Sellers Gave Up on These 3 Names Recently What is diluted earnings per share (Diluted EPS)? 3 Boring Stocks Outperforming the Market This Year Utilities Stocks Explained – How and Why to Invest in Utilities If You Wanted To Buy AbbVie and Didn’t, There’s Still Time To Buy Receive News & Ratings for Danaos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Danaos and related companies with MarketBeat.com's FREE daily email newsletter ..
