Hi Line Capital Management LLC Has $5.13 Million Stock Position in Danaos Corporation $DAC

Hi Line Capital Management LLC raised its position in Danaos Corporation (NYSE:DAC) by 98.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,133 shares of the shipping company’s stock after purchasing an additional 28,365 shares during the quarter. Danaos makes up approximately 1.6% of Hi Line Capital Management LLC’s holdings, making the stock its 25th biggest position. Hi Line Capital Management LLC owned about 0.30% of Danaos worth $5,131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DAC. Assetmark Inc. lifted its holdings in shares of Danaos by 15,500.0% during the 2nd quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock valued at $40,000 after buying an additional 465 shares during the last quarter. Raymond James Financial Inc. bought a new position in Danaos during the second quarter valued at approximately $64,000. Tower Research Capital LLC TRC bought a new position in Danaos during the second quarter valued at approximately $67,000. TD Waterhouse Canada Inc. acquired a new stake in Danaos in the second quarter valued at approximately $107,000. Finally, State of Wyoming lifted its stake in Danaos by 205.3% in the second quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock valued at $184,000 after acquiring an additional 1,431 shares during the last quarter. 19.01% of the stock is owned by hedge funds and other institutional investors.

Danaos Stock Up 2.7%

Shares of DAC stock opened at $107.91 on Friday. The stock’s 50 day simple moving average is $98.65 and its 200 day simple moving average is $94.49. Danaos Corporation has a twelve month low of $65.40 and a twelve month high of $108.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.51 and a current ratio of 4.62. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 4.03 and a beta of 1.08.

Danaos (NYSE:DAC) last announced its earnings results on Monday, February 9th. The shipping company reported $7.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.46 by $0.68. Danaos had a return on equity of 13.50% and a net margin of 47.45%.The firm had revenue of $266.27 million during the quarter, compared to analysts’ expectations of $253.00 million. As a group, research analysts predict that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, February 23rd. Danaos’s dividend payout ratio (DPR) is 13.44%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Danaos in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $105.00.

About Danaos

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.