Hafnia (NYSE:HAFN) Sees Large Volume Increase After Dividend Announcement

Hafnia Limited (NYSE:HAFN) saw strong trading volume on Wednesday following a dividend announcement from the company. 718,313 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 650,520 shares.The stock last traded at $5.50 and had previously closed at $5.33.

The newly announced dividend which will be paid on Tuesday, December 17th. Investors of record on Friday, December 6th will be given a dividend of $0.379 per share. This represents a $1.52 annualized dividend and a dividend yield of 26.88%. The ex-dividend date of this dividend is Friday, December 6th. Hafnia’s dividend payout ratio is currently 103.18%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut their target price on Hafnia from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Hafnia Price Performance

The firm has a market cap of $2.86 billion and a PE ratio of 3.59. The firm has a fifty day simple moving average of $6.34 and a two-hundred day simple moving average of $7.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49.

Hedge Funds Weigh In On Hafnia

Institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in Hafnia by 10.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock valued at $21,350,000 after buying an additional 290,000 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in Hafnia during the 3rd quarter valued at approximately $3,175,000. Marshall Wace LLP purchased a new position in Hafnia during the 2nd quarter valued at approximately $1,025,000. Glenorchy Capital Ltd purchased a new position in Hafnia during the 3rd quarter valued at approximately $726,000. Finally, Acadian Asset Management LLC purchased a new position in Hafnia during the 2nd quarter valued at approximately $107,651,000.

Hafnia Company Profile

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.