1 week Ago By Defense World Staff
Invesco Ltd. trimmed its holdings in shares of Danaos Co. (NYSE:DAC – Free Report) by 3.
1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,565 shares of the shipping company’s stock after selling 1,922 shares during the quarter. Invesco Ltd.
owned 0.31% of Danaos worth $4,769,000 at the end of the most recent reporting period. Other institutional investors have also recently made changes to their positions in the company.
Summit Securities Group LLC bought a new stake in shares of Danaos in the 4th quarter valued at approximately $32,000. New Age Alpha Advisors LLC bought a new stake in Danaos in the fourth quarter worth $87,000. Harel Insurance Investments & Financial Services Ltd.
boosted its stake 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 worth $117,000 after buying an additional 400 shares during the period. Allworth Financial LP increased its position in 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 acquiring an additional 1,500 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Danaos by 24.1% in the fourth quarter.
Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock valued at $186,000 after acquiring an additional 451 shares during the period. Institutional investors own 19.01% of the company’s stock.
Danaos Stock Up 0.2 %Shares of DAC opened at $80.66 on Friday.
The firm has a fifty day moving average price of $78.07 and a 200-day moving average price of $80.02.
The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.
19. The firm has a market capitalization of $1.53 billion, a P/E ratio of 3.
11 and a beta of 1.32. Danaos Co.
has a 12-month low of $65.40 and a 12-month high of $98.25.
Danaos (NYSE:DAC – Get Free Report) last released its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.
52 by ($0.02). Danaos had a net margin of 49.
81% and a return on equity of 16.03%. Equities research analysts expect that Danaos Co.
will post 29.21 earnings per share for the current year. Danaos Dividend AnnouncementThe company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th.
Shareholders of record on Monday, February 24th were issued a dividend of $0.85 per share. The ex-dividend date was Monday, February 24th.
This represents a $3.40 annualized dividend and a yield of 4.22%.
Danaos’s payout ratio is currently 13.12%. Danaos declared that its Board of Directors has approved a stock repurchase plan on Monday, April 14th that permits the company to buyback $100.
00 million in outstanding shares. This buyback authorization permits the shipping company to reacquire up to 6.8% of its stock through open market purchases.
Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued. Analysts Set New Price TargetsSeveral equities analysts recently commented on DAC shares. Jefferies Financial Group reiterated a “buy” rating and set a $105.
00 price target on shares of Danaos in a report on Tuesday, February 11th. StockNews.com raised Danaos from a “hold” rating to a “buy” rating in a research note on Monday, March 10th.
Read Our Latest Analysis on DACAbout Danaos (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.
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