Blue Trust Inc. Has $483,000 Stake in Danaos Co. (NYSE:DAC)

Blue Trust Inc. grew its stake in Danaos Co. (NYSE:DAC) by 49.8% during the fourth quarter, HoldingsChannel reports. The firm owned 5,573 shares of the shipping company’s stock after buying an additional 1,853 shares during the quarter. Blue Trust Inc.’s holdings in Danaos were worth $483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. boosted its position in Danaos by 56.9% in the second quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock valued at $2,978,000 after buying an additional 11,687 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Danaos during the 2nd quarter valued at $1,250,000. Creative Planning grew its position in Danaos by 8.4% during the 2nd quarter. Creative Planning now owns 8,339 shares of the shipping company’s stock worth $770,000 after acquiring an additional 644 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Danaos in the 3rd quarter worth about $327,000. Finally, Redhawk Wealth Advisors Inc. raised its position in Danaos by 7.5% in the third quarter. Redhawk Wealth Advisors Inc. now owns 8,773 shares of the shipping company’s stock valued at $761,000 after purchasing an additional 614 shares during the last quarter. 19.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DAC shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday, November 12th. StockNews.com downgraded Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

Danaos Stock Performance

NYSE:DAC opened at $79.45 on Friday. The company has a market capitalization of $1.54 billion, a PE ratio of 2.75 and a beta of 1.47. Danaos Co. has a fifty-two week low of $69.33 and a fifty-two week high of $98.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The company has a 50 day simple moving average of $79.33 and a two-hundred day simple moving average of $81.84.

Danaos (NYSE:DAC) last announced its earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). The firm had revenue of $256.18 million for the quarter, compared to the consensus estimate of $251.16 million. Danaos had a return on equity of 16.68% and a net margin of 56.16%. During the same period in the prior year, the business earned $7.26 EPS. Research analysts anticipate that Danaos Co. will post 26.95 earnings per share for the current year.

Danaos Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 25th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.28%. This is an increase from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, November 25th. Danaos’s payout ratio is currently 11.76%.

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.