Danaos Co. (NYSE:DAC) Shares Sold by Foundry Partners LLC

Foundry Partners LLC decreased its holdings in shares of Danaos Co. (NYSE:DAC) by 19.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,986 shares of the shipping company’s stock after selling 16,907 shares during the quarter. Foundry Partners LLC owned approximately 0.36% of Danaos worth $6,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Acadian Asset Management LLC raised its stake in Danaos by 41.3% during the first quarter. Acadian Asset Management LLC now owns 591,001 shares of the shipping company’s stock worth $42,647,000 after acquiring an additional 172,832 shares during the period. Commonwealth Equity Services LLC grew its position in Danaos by 1.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 77,365 shares of the shipping company’s stock worth $5,586,000 after purchasing an additional 975 shares during the last quarter. Significant Wealth Partners LLC grew its position in Danaos by 1,048.0% in the 1st quarter. Significant Wealth Partners LLC now owns 43,798 shares of the shipping company’s stock worth $3,162,000 after purchasing an additional 39,983 shares during the last quarter. Russell Investments Group Ltd. grew its position in Danaos by 32.5% in the 1st quarter. Russell Investments Group Ltd. now owns 38,758 shares of the shipping company’s stock worth $2,819,000 after purchasing an additional 9,506 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its position in Danaos by 40.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 36,418 shares of the shipping company’s stock worth $2,697,000 after purchasing an additional 10,577 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Stock Performance

NYSE DAC traded down $0.67 on Friday, hitting $78.32. The stock had a trading volume of 15,706 shares, compared to its average volume of 105,548. Danaos Co. has a one year low of $62.37 and a one year high of $98.25. The company has a quick ratio of 4.04, a current ratio of 4.18 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 2.68 and a beta of 1.47. The company’s 50-day moving average is $84.91 and its two-hundred day moving average is $81.41.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, August 5th. The shipping company reported $6.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.04 by ($0.26). The company had revenue of $246.31 million during the quarter, compared to the consensus estimate of $238.83 million. Danaos had a net margin of 58.15% and a return on equity of 17.88%. During the same quarter last year, the business earned $7.14 earnings per share. On average, analysts expect that Danaos Co. will post 28.43 earnings per share for the current year.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, August 20th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is presently 10.86%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their target price on shares of Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th.

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.