O Shaughnessy Asset Management LLC Purchases 8,839 Shares of Danaos Co. (NYSE:DAC)

O Shaughnessy Asset Management LLC boosted its position in Danaos Co. (NYSE:DAC) by 55.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 24,694 shares of the shipping company’s stock after acquiring an additional 8,839 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Danaos were worth $1,783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in Danaos by 41.3% in the 1st quarter. Acadian Asset Management LLC now owns 591,001 shares of the shipping company’s stock valued at $42,647,000 after acquiring an additional 172,832 shares during the period. Foundry Partners LLC raised its stake in Danaos by 11.8% in the 1st quarter. Foundry Partners LLC now owns 86,893 shares of the shipping company’s stock valued at $6,274,000 after acquiring an additional 9,182 shares during the period. Russell Investments Group Ltd. raised its stake in Danaos by 32.5% in the 1st quarter. Russell Investments Group Ltd. now owns 38,758 shares of the shipping company’s stock valued at $2,819,000 after acquiring an additional 9,506 shares during the period. Inspire Advisors LLC bought a new stake in Danaos in the 1st quarter valued at about $268,000. Finally, Sei Investments Co. bought a new stake in Danaos in the 1st quarter valued at about $1,484,000. 19.01% of the stock is currently owned by institutional investors.

Danaos Trading Down 1.9 %

Shares of DAC opened at $84.69 on Thursday. The business’s 50-day moving average price is $90.35 and its 200-day moving average price is $79.99. Danaos Co. has a twelve month low of $62.37 and a twelve month high of $98.25. The stock has a market cap of $1.64 billion, a PE ratio of 2.87 and a beta of 1.51. The company has a quick ratio of 3.75, a current ratio of 3.89 and a debt-to-equity ratio of 0.14.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Tuesday, May 28th. The shipping company reported $7.15 earnings per share for the quarter, missing the consensus estimate of $7.71 by ($0.56). Danaos had a net margin of 59.04% and a return on equity of 18.99%. The company had revenue of $253.45 million for the quarter. During the same quarter in the previous year, the company posted $7.14 EPS. On average, equities analysts forecast that Danaos Co. will post 29.18 EPS for the current fiscal year.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 11th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Tuesday, June 11th. Danaos’s dividend payout ratio is presently 10.86%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upped their price target on Danaos from $90.00 to $105.00 and gave the company 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.