Charles Schwab Investment Management Inc. Has $2.93 Million Stake in Danaos Co. (NYSE:DAC)

Charles Schwab Investment Management Inc. lessened its stake in Danaos Co. (NYSE:DAC - Free Report) by 32.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,772 shares of the shipping company's stock after selling 16,031 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.17% of Danaos worth $2,929,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in Danaos by 33.5% in the second quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company's stock worth $72,823,000 after buying an additional 197,904 shares during the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in shares of Danaos by 17,600,000.0% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company's stock worth $16,255,000 after purchasing an additional 176,000 shares during the last quarter. TrueMark Investments LLC bought a new position in shares of Danaos during the 2nd quarter valued at $1,734,000. Marshall Wace LLP bought a new position in shares of Danaos during the 2nd quarter valued at $1,250,000. Finally, Sei Investments Co. lifted its stake in shares of Danaos by 56.9% in the 2nd quarter. Sei Investments Co. now owns 32,242 shares of the shipping company's stock valued at $2,978,000 after purchasing an additional 11,687 shares during the last quarter. Hedge funds and other institutional investors own 19.01% of the company's stock.

Danaos Stock Performance

Shares of Danaos stock traded down $1.08 on Monday, reaching $78.13. The stock had a trading volume of 148,429 shares, compared to its average volume of 109,666. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The business's 50-day moving average price is $82.82 and its two-hundred day moving average price is $84.92. The stock has a market cap of $1.52 billion, a P/E ratio of 2.74 and a beta of 1.49. Danaos Co. has a fifty-two week low of $69.33 and a fifty-two week high of $98.25.

Danaos (NYSE:DAC - Get Free Report) last released its earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts' consensus estimates of $6.86 by ($0.36). The firm had revenue of $256.18 million for the quarter, compared to analyst estimates of $251.16 million. Danaos had a return on equity of 16.68% and a net margin of 56.16%. During the same period in the prior year, the firm earned $7.26 EPS. On average, sell-side analysts forecast that Danaos Co. will post 27.56 EPS for the current year.

Danaos Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th were issued a $0.85 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $3.40 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Danaos's previous quarterly dividend of $0.80. Danaos's dividend payout ratio (DPR) is 11.76%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group reissued a "buy" rating and set a $105.00 target price on shares of Danaos in a research report on Tuesday, November 12th. StockNews.com lowered Danaos from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th.

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.