SEB Asset Management AB Acquires New Stake in Danaos Corporation $DAC

SEB Asset Management AB bought a new position in shares of Danaos Corporation (NYSE:DAC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,877 shares of the shipping company’s stock, valued at approximately $437,000.

A number of other institutional investors have also recently made changes to their positions in DAC. Kestra Advisory Services LLC acquired a new stake in shares of Danaos in the fourth quarter valued at about $43,000. Ascentis Independent Advisors bought a new position in shares of Danaos during the first quarter worth about $56,000. Raymond James Financial Inc. acquired a new position in shares of Danaos in the second quarter worth approximately $64,000. Tower Research Capital LLC TRC bought a new stake in Danaos in the second quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC boosted its holdings in Danaos by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 485 shares during the last quarter. Institutional investors own 19.01% of the company’s stock.

Danaos Stock Performance

Shares of Danaos stock opened at $139.93 on Friday. The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $128.42 and a two-hundred day moving average price of $117.55. Danaos Corporation has a 1-year low of $83.56 and a 1-year high of $140.66. The company has a market cap of $2.55 billion, a P/E ratio of 4.94 and a beta of 0.89.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, May 11th. The shipping company reported $6.72 earnings per share for the quarter, topping the consensus estimate of $5.86 by $0.86. The firm had revenue of $253.70 million during the quarter, compared to analyst estimates of $242.20 million. Danaos had a return on equity of 13.18% and a net margin of 49.85%.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Tuesday, July 21st will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, July 21st. This represents a $3.60 annualized dividend and a yield of 2.6%. Danaos’s dividend payout ratio (DPR) is currently 12.70%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DAC. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $105.00.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.