JPMorgan Chase & Co. Has $2.59 Million Stock Position in Danaos Co. (NYSE:DAC)

JPMorgan Chase & Co. lessened its holdings in shares of Danaos Co. (NYSE:DAC) by 55.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,861 shares of the shipping company’s stock after selling 37,351 shares during the quarter. JPMorgan Chase & Co. owned 0.15% of Danaos worth $2,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAC. Gordian Capital Singapore Pte Ltd raised its position in shares of Danaos by 17,600,000.0% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock worth $16,255,000 after purchasing an additional 176,000 shares during the period. Sei Investments Co. increased its stake in Danaos by 56.9% during the 2nd quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock worth $2,978,000 after purchasing an additional 11,687 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Danaos by 2.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 26,908 shares of the shipping company’s stock worth $2,334,000 after buying an additional 766 shares during the period. State Street Corp lifted its stake in Danaos by 2.3% in the third quarter. State Street Corp now owns 24,098 shares of the shipping company’s stock valued at $2,090,000 after buying an additional 547 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Danaos in the second quarter valued at approximately $1,250,000. 19.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 price target on shares of Danaos in a research note on Tuesday, November 12th.

Danaos Trading Down 0.5 %

NYSE DAC opened at $77.54 on Tuesday. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 2.68 and a beta of 1.47. Danaos Co. has a 52 week low of $69.33 and a 52 week high of $98.25. The stock’s 50 day moving average price is $80.56 and its two-hundred day moving average price is $82.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). Danaos had a return on equity of 16.68% and a net margin of 56.16%. The business had revenue of $256.18 million during the quarter, compared to the consensus estimate of $251.16 million. During the same period in the prior year, the firm earned $7.26 EPS. As a group, analysts anticipate that Danaos Co. will post 26.99 earnings per share for the current fiscal year.

Danaos Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 25th were issued a $0.85 dividend. This is a boost from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, November 25th. This represents a $3.40 annualized dividend and a dividend yield of 4.38%. Danaos’s dividend payout ratio (DPR) is presently 11.76%.

Danaos Company 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.