Danaos Corporation $DAC Shares Sold by Fiera Capital Corp

Fiera Capital Corp lowered its holdings in Danaos Corporation (NYSE:DAC) by 84.3% during the fourth quarter, Holdings Channel reports. The fund owned 2,485 shares of the shipping company’s stock after selling 13,372 shares during the quarter. Fiera Capital Corp’s holdings in Danaos were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DAC. Aristides Capital LLC grew its stake in shares of Danaos by 4.1% during the 3rd quarter. Aristides Capital LLC now owns 2,972 shares of the shipping company’s stock worth $267,000 after purchasing an additional 116 shares during the period. R Squared Ltd grew its stake in shares of Danaos by 12.0% during the 4th quarter. R Squared Ltd now owns 2,824 shares of the shipping company’s stock worth $266,000 after purchasing an additional 303 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Danaos by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after purchasing an additional 485 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Danaos during the 2nd quarter worth approximately $64,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Danaos during the 2nd quarter worth approximately $67,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Stock Down 1.4%

Shares of NYSE DAC opened at $128.47 on Thursday. The company has a 50 day simple moving average of $124.19 and a 200-day simple moving average of $110.40. The company has a market capitalization of $2.34 billion, a P/E ratio of 4.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40. Danaos Corporation has a 1 year low of $83.56 and a 1 year high of $135.21.

Danaos (NYSE:DAC) last released its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 EPS for the quarter, topping analysts’ consensus estimates of $5.86 by $0.86. The company had revenue of $253.70 million for the quarter, compared to analysts’ expectations of $242.20 million. Danaos had a return on equity of 13.18% and a net margin of 49.85%.

Danaos Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 26th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.8%. Danaos’s payout ratio is 12.70%.

Analyst Ratings Changes

A number of brokerages have weighed in on DAC. Freedom Capital upgraded shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings raised Danaos from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. Finally, Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $105.00.

Danaos Company Profile

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.