Natixis Advisors LLC Trims Stock Holdings in Danaos Co. (NYSE:DAC)

Natixis Advisors LLC lowered its stake in Danaos Co. (NYSE:DAC) by 16.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,962 shares of the shipping company’s stock after selling 2,359 shares during the quarter. Natixis Advisors LLC’s holdings in Danaos were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Signaturefd LLC increased its holdings in Danaos by 21.4% in the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after acquiring an additional 122 shares in the last quarter. National Bank of Canada FI raised its position in shares of Danaos by 7.5% during the 2nd quarter. National Bank of Canada FI now owns 3,689 shares of the shipping company’s stock valued at $339,000 after purchasing an additional 257 shares during the period. nVerses Capital LLC lifted its stake in shares of Danaos by 75.0% during the 3rd quarter. nVerses Capital LLC now owns 700 shares of the shipping company’s stock valued at $61,000 after buying an additional 300 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Danaos by 3.3% during the 1st quarter. Tidal Investments LLC now owns 11,905 shares of the shipping company’s stock valued at $860,000 after buying an additional 382 shares in the last quarter. Finally, Morgan Dempsey Capital Management LLC boosted its holdings in Danaos by 12.1% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 3,811 shares of the shipping company’s stock worth $352,000 after buying an additional 411 shares during the period. 19.01% of the stock is owned by hedge funds and other institutional investors.

Danaos Price Performance

Shares of NYSE:DAC opened at $79.16 on Wednesday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 2.74 and a beta of 1.47. The firm has a fifty day moving average price of $83.97 and a 200 day moving average price of $85.52. Danaos Co. has a fifty-two week low of $66.45 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.

Danaos (NYSE:DAC) last released its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36). The company had revenue of $256.18 million for the quarter, compared to the consensus estimate of $251.16 million. Danaos had a net margin of 56.16% and a return on equity of 16.68%. During the same period last year, the company earned $7.26 EPS. As a group, sell-side analysts expect that Danaos Co. will post 27.56 earnings per share for the current fiscal year.

Danaos Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th will be paid a $0.85 dividend. This is an increase from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, November 25th. This represents a $3.40 dividend on an annualized basis and a yield of 4.30%. Danaos’s payout ratio is presently 11.07%.

Analysts Set New Price Targets

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

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.