Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.10 Million Holdings in Danaos Co. (NYSE:DAC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Danaos Co. (NYSE:DAC - Free Report) by 61.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,697 shares of the shipping company's stock after purchasing an additional 5,228 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.07% of Danaos worth $1,097,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Corsair Capital Management L.P. acquired a new stake in shares of Danaos in the third quarter worth $607,000. Verition Fund Management LLC acquired a new stake in Danaos in the 3rd quarter worth $205,000. State Street Corp increased its holdings in shares of Danaos by 2.3% during the 3rd quarter. State Street Corp now owns 24,098 shares of the shipping company's stock worth $2,090,000 after purchasing an additional 547 shares during the period. National Bank of Canada FI raised its position in shares of Danaos by 4.9% during the third quarter. National Bank of Canada FI now owns 3,871 shares of the shipping company's stock valued at $336,000 after buying an additional 182 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Danaos during the third quarter valued at about $351,000. 19.01% of the stock is currently owned by institutional investors.

Danaos Stock Performance

Danaos stock traded up $0.27 on Friday, hitting $79.34. The company's stock had a trading volume of 101,970 shares, compared to its average volume of 108,243. Danaos Co. has a one year low of $71.32 and a one year high of $98.25. The firm has a market cap of $1.51 billion, a P/E ratio of 3.06 and a beta of 1.41. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $80.38 and a 200-day moving average price of $81.38.

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

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.85 dividend. The ex-dividend date was Monday, February 24th. This represents a $3.40 annualized dividend and a dividend yield of 4.29%. Danaos's dividend payout ratio is currently 13.12%.

Analyst Ratings Changes

DAC has been the topic of a number of recent research reports. StockNews.com raised Danaos from a "hold" rating to a "buy" rating in a research report on Monday, March 10th. Jefferies Financial Group reissued a "buy" rating and set a $105.00 price objective on shares of Danaos in a report on Tuesday, February 11th.

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.