Gordian Capital Singapore Pte Ltd Acquires 176,000 Shares of Danaos Co. (NYSE:DAC)

Gordian Capital Singapore Pte Ltd lifted its stake in shares of Danaos Co. (NYSE:DAC) by 17,600,000.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,001 shares of the shipping company’s stock after purchasing an additional 176,000 shares during the period. Danaos accounts for about 8.6% of Gordian Capital Singapore Pte Ltd’s portfolio, making the stock its 3rd largest holding. Gordian Capital Singapore Pte Ltd owned approximately 0.91% of Danaos worth $16,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Danaos by 32.5% in the first 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 in the last quarter. Acadian Asset Management LLC boosted its position 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 last quarter. BNP Paribas Financial Markets boosted its position in Danaos by 88.4% during the first quarter. BNP Paribas Financial Markets now owns 18,961 shares of the shipping company’s stock worth $1,369,000 after acquiring an additional 8,897 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Danaos by 55.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 24,694 shares of the shipping company’s stock worth $1,783,000 after acquiring an additional 8,839 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Danaos in the 1st quarter valued at $1,484,000. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Stock Performance

NYSE:DAC opened at $86.83 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 4.04 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 2.95 and a beta of 1.47. The firm’s fifty day simple moving average is $81.99 and its 200 day simple moving average is $82.68. Danaos Co. has a twelve month low of $62.37 and a twelve month high of $98.25.

Danaos (NYSE:DAC) last posted its earnings results on Monday, August 5th. The shipping company reported $6.78 earnings per share for the quarter, missing the consensus estimate of $7.04 by ($0.26). The business had revenue of $246.31 million for the quarter, compared to analyst estimates of $238.83 million. Danaos had a net margin of 58.15% and a return on equity of 17.88%. During the same quarter in the previous year, the firm posted $7.14 EPS. As a group, equities research analysts expect that Danaos Co. will post 28.43 earnings per share for the current fiscal year.

Danaos Announces Dividend

The firm also recently declared 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 3.69%. The ex-dividend date was Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is presently 10.86%.

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.