Moors & Cabot Inc. Has $541,000 Stock Holdings in Danaos Co. (NYSE:DAC)

Moors & Cabot Inc. decreased its stake in shares of Danaos Co. (NYSE:DAC) by 24.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,242 shares of the shipping company’s stock after selling 2,000 shares during the quarter. Moors & Cabot Inc.’s holdings in Danaos were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Acadian Asset Management LLC grew its stake in shares of Danaos by 33.5% in the second quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company’s stock valued at $72,823,000 after buying an additional 197,904 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its position in shares of Danaos by 17,600,000.0% in the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock valued at $16,255,000 after acquiring an additional 176,000 shares during the period. Russell Investments Group Ltd. grew its position in shares of 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. Sei Investments Co. increased its stake in shares of Danaos by 56.9% during the 2nd quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock worth $2,978,000 after purchasing an additional 11,687 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Danaos by 2.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,908 shares of the shipping company’s stock valued at $2,334,000 after purchasing an additional 766 shares during the period. Institutional investors own 19.01% of the company’s stock.

Danaos Price Performance

Shares of DAC opened at $85.90 on Friday. The company’s 50-day moving average is $83.82 and its 200-day moving average is $85.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The firm has a market capitalization of $1.67 billion, a PE ratio of 2.97 and a beta of 1.47. Danaos Co. has a fifty-two week low of $66.45 and a fifty-two week high of $98.25.

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

Danaos Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 25th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from Danaos’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 3.96%. Danaos’s payout ratio is 11.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DAC. 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 report on Tuesday, November 12th.

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.