Danaos Co. (NYSE:DAC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its position in Danaos Co. (NYSE:DAC - Free Report) by 49.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,067 shares of the shipping company's stock after selling 16,705 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.09% of Danaos worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DGS Capital Management LLC boosted its holdings in shares of Danaos by 71.6% during the fourth quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company's stock worth $1,917,000 after purchasing an additional 9,994 shares during the last quarter. Verition Fund Management LLC purchased a new position in Danaos during the third quarter worth about $205,000. State Street Corp boosted its stake in Danaos by 2.3% in the 3rd quarter. State Street Corp now owns 24,098 shares of the shipping company's stock worth $2,090,000 after buying an additional 547 shares during the last quarter. Allworth Financial LP grew its holdings in Danaos by 340.1% in the 4th quarter. Allworth Financial LP now owns 1,941 shares of the shipping company's stock valued at $149,000 after buying an additional 1,500 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Danaos by 4.9% during the 3rd quarter. National Bank of Canada FI now owns 3,871 shares of the shipping company's stock valued at $336,000 after acquiring an additional 182 shares during the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on DAC shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $105.00 price target on shares of Danaos in a research report on Tuesday, February 11th. StockNews.com raised shares of Danaos from a "hold" rating to a "buy" rating in a research note on Monday, March 10th.

Danaos Trading Up 0.1 %

NYSE:DAC traded up $0.04 on Wednesday, hitting $79.58. 41,082 shares of the stock were exchanged, compared to its average volume of 108,046. The stock has a market cap of $1.51 billion, a PE ratio of 3.07 and a beta of 1.41. Danaos Co. has a fifty-two week low of $71.32 and a fifty-two week high of $98.25. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $80.50 and a 200-day moving average of $81.37.

Danaos (NYSE:DAC - Get Free Report) last posted its earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. As a group, equities analysts expect that Danaos Co. will post 29.21 earnings per share for the current fiscal year.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.85 per share. The ex-dividend date was Monday, February 24th. This represents a $3.40 annualized dividend and a dividend yield of 4.27%. Danaos's payout ratio is 13.12%.

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.