Planned Solutions Inc. Invests $70,000 in Danaos Co. (NYSE:DAC)

Planned Solutions Inc. acquired a new stake in shares of Danaos Co. (NYSE:DAC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 950 shares of the shipping company’s stock, valued at approximately $70,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates bought a new stake in shares of Danaos in the 1st quarter valued at about $906,000. Natixis Advisors L.P. lifted its position in Danaos by 26.5% during the first quarter. Natixis Advisors L.P. now owns 14,098 shares of the shipping company’s stock valued at $1,446,000 after acquiring an additional 2,951 shares during the last quarter. Cibc World Market Inc. acquired a new stake in Danaos in the first quarter valued at approximately $347,000. Sei Investments Co. purchased a new position in Danaos in the first quarter worth $923,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of Danaos during the first quarter worth $4,921,000. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Danaos in a research report on Wednesday, February 14th.

Danaos Trading Up 0.8 %

Shares of Danaos stock opened at $72.54 on Thursday. Danaos Co. has a 12-month low of $52.46 and a 12-month high of $80.39. The firm’s 50 day simple moving average is $73.09 and its two-hundred day simple moving average is $70.29. The company has a current ratio of 2.98, a quick ratio of 2.84 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 2.50 and a beta of 1.30.

Danaos (NYSE:DAC) last issued its earnings results on Tuesday, February 13th. The shipping company reported $6.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.70 by ($0.71). Danaos had a return on equity of 19.94% and a net margin of 59.19%. The firm had revenue of $249.32 million during the quarter, compared to analysts’ expectations of $254.37 million. Analysts predict that Danaos Co. will post 31.33 EPS for the current year.

Danaos Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Tuesday, February 27th. Danaos’s dividend payout ratio is presently 11.05%.

Danaos 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 February 28, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.