Bank of Montreal Can Makes New $3.77 Million Investment in Hafnia Limited (NYSE:HAFN)

Bank of Montreal Can acquired a new stake in Hafnia Limited (NYSE:HAFN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 528,054 shares of the company's stock, valued at approximately $3,774,000. Bank of Montreal Can owned about 0.10% of Hafnia at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirabella Financial Services LLP acquired a new position in shares of Hafnia in the third quarter valued at approximately $3,175,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Hafnia during the third quarter valued at $242,000. Sigma Planning Corp acquired a new position in shares of Hafnia during the third quarter worth $202,000. DekaBank Deutsche Girozentrale grew its stake in shares of Hafnia by 10.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company's stock worth $21,350,000 after purchasing an additional 290,000 shares during the last quarter. Finally, U S Global Investors Inc. bought a new position in Hafnia during the 3rd quarter worth $333,000.

Hafnia Trading Down 0.7 %

Hafnia stock traded down $0.04 during mid-day trading on Thursday, hitting $5.75. 4,114,432 shares of the stock were exchanged, compared to its average volume of 757,895. The firm's fifty day simple moving average is $6.21 and its two-hundred day simple moving average is $7.29. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Hafnia Limited has a 12 month low of $5.13 and a 12 month high of $8.99. The stock has a market capitalization of $2.91 billion and a price-to-earnings ratio of 3.41.

Hafnia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, December 6th will be issued a $0.379 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.52 annualized dividend and a yield of 26.37%. Hafnia's payout ratio is 88.82%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reduced their price target on Hafnia from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th.

About Hafnia

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.