Natixis Advisors LLC Sells 169 Shares of Danaos Co. (NYSE:DAC)

Natixis Advisors LLC lessened its stake in Danaos Co. (NYSE:DAC) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,793 shares of the shipping company’s stock after selling 169 shares during the period. Natixis Advisors LLC owned approximately 0.06% of Danaos worth $944,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. PFG Advisors increased its position in shares of Danaos by 12.5% during the 4th quarter. PFG Advisors now owns 5,856 shares of the shipping company’s stock valued at $469,000 after purchasing an additional 651 shares during the last quarter. Allworth Financial LP increased its holdings 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 buying an additional 1,500 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Danaos by 43.4% during the 4th quarter. Blue Trust Inc. now owns 5,335 shares of the shipping company’s stock worth $427,000 after acquiring an additional 1,615 shares during the last quarter. DGS Capital Management LLC grew its position in shares of Danaos by 71.6% during the 4th quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company’s stock valued at $1,917,000 after acquiring an additional 9,994 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Danaos by 37.7% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock worth $117,000 after purchasing an additional 400 shares in the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Danaos Trading Down 0.3 %

DAC opened at $80.53 on Thursday. The stock has a 50-day moving average of $80.33 and a 200 day moving average of $81.32. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19. Danaos Co. has a 12 month low of $71.32 and a 12 month high of $98.25. The firm has a market cap of $1.53 billion, a P/E ratio of 3.11 and a beta of 1.41.

Danaos (NYSE:DAC) last announced its earnings results 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, research analysts forecast that Danaos Co. will post 29.21 EPS for the current year.

Danaos Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.85 dividend. 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 presently 13.12%.

Analysts Set New Price Targets

Several research firms recently weighed in on DAC. StockNews.com upgraded Danaos from a “hold” rating to a “buy” rating in a research report on Monday, March 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price target on shares of Danaos in a research note on Tuesday, February 11th.

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.