Russell Investments Group Ltd. Has $1.34 Million Holdings in Danaos Co. (NYSE:DAC)

Russell Investments Group Ltd. decreased its holdings in Danaos Co. (NYSE:DAC - Free Report) by 53.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,839 shares of the shipping company's stock after selling 19,476 shares during the period. Russell Investments Group Ltd. owned approximately 0.09% of Danaos worth $1,339,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. DGS Capital Management LLC grew its position in Danaos by 71.6% during the 4th quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company's stock worth $1,917,000 after acquiring an additional 9,994 shares during the last quarter. State Street Corp grew its holdings in shares of Danaos by 2.3% during the third 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 last quarter. Allworth Financial LP increased its stake in shares of Danaos by 340.1% in the fourth 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. Sei Investments Co. raised its holdings in Danaos by 12.8% in the 4th quarter. Sei Investments Co. now owns 32,629 shares of the shipping company's stock valued at $2,613,000 after buying an additional 3,696 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Danaos by 71.8% during the 4th quarter. JPMorgan Chase & Co. now owns 51,291 shares of the shipping company's stock worth $4,107,000 after buying an additional 21,430 shares during the period. Institutional investors and hedge funds own 19.01% of the company's stock.

Danaos Trading Up 0.9 %

Shares of DAC traded up $0.75 during trading hours on Thursday, hitting $80.27. 32,507 shares of the stock were exchanged, compared to its average volume of 110,472. The firm has a market capitalization of $1.52 billion, a P/E ratio of 3.10 and a beta of 1.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. Danaos Co. has a fifty-two week low of $65.40 and a fifty-two week high of $98.25. The business has a 50-day moving average of $78.22 and a 200-day moving average of $80.13.

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

Danaos announced that its board has approved a share repurchase program on Monday, April 14th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the shipping company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

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 4.24%. Danaos's dividend payout ratio is currently 13.12%.

Analyst Ratings Changes

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

Danaos 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.