Diversified Trust Co Takes $498,000 Position in Danaos Corporation $DAC

Diversified Trust Co bought a new stake in Danaos Corporation (NYSE:DAC) in the first quarter, Holdings Channel.com reports. The institutional investor bought 4,422 shares of the shipping company’s stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Kestra Advisory Services LLC acquired a new position in Danaos during the fourth quarter valued at $43,000. Raymond James Financial Inc. acquired a new stake in Danaos during the 2nd quarter worth about $64,000. Tower Research Capital LLC TRC acquired a new stake in Danaos during the 2nd quarter worth about $67,000. Farther Finance Advisors LLC grew its stake in Danaos by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 485 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Danaos by 443.1% during the 4th quarter. Royal Bank of Canada now owns 869 shares of the shipping company’s stock valued at $82,000 after acquiring an additional 709 shares in the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Price Performance

NYSE DAC opened at $124.79 on Friday. The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.27 billion, a PE ratio of 4.40 and a beta of 0.91. Danaos Corporation has a 12-month low of $83.56 and a 12-month high of $135.21. The company has a 50 day moving average price of $126.84 and a two-hundred day moving average price of $112.79.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 EPS for the quarter, topping the consensus estimate of $5.86 by $0.86. The company had revenue of $253.70 million for the quarter, compared to analyst estimates of $242.20 million. Danaos had a net margin of 49.85% and a return on equity of 13.18%.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Danaos’s dividend payout ratio is presently 12.70%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DAC shares. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. Finally, Freedom Capital raised shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $105.00.

Danaos Profile

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.