U S Global Investors Inc. Invests $296,000 in Danaos Co. (NYSE:DAC)

U S Global Investors Inc. purchased a new position in Danaos Co. (NYSE:DAC) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 3,416 shares of the shipping company’s stock, valued at approximately $296,000.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Danaos in the second quarter worth approximately $37,000. Signaturefd LLC boosted its stake in Danaos by 21.4% during the second quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after buying an additional 122 shares during the last quarter. Mather Group LLC. purchased a new stake in Danaos in the second quarter valued at $76,000. Blue Trust Inc. raised its holdings in shares of Danaos by 7,620.0% in the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock valued at $107,000 after buying an additional 1,143 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Danaos in the 2nd quarter valued at $111,000. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Trading Up 1.0 %

Shares of DAC stock traded up $0.88 on Tuesday, hitting $85.30. The stock had a trading volume of 4,302 shares, compared to its average volume of 106,054. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.18 and a quick ratio of 4.04. The firm has a market capitalization of $1.66 billion, a P/E ratio of 2.90 and a beta of 1.47. Danaos Co. has a 1 year low of $62.37 and a 1 year high of $98.25. The company’s 50 day moving average price is $82.73 and its 200-day moving average price is $84.14.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, August 5th. The shipping company reported $6.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.04 by ($0.26). The firm had revenue of $246.31 million during the quarter, compared to analysts’ expectations of $238.83 million. Danaos had a net margin of 58.15% and a return on equity of 17.88%. During the same quarter in the prior year, the firm posted $7.14 EPS. Analysts anticipate that Danaos Co. will post 28.43 earnings per share for the current year.

Danaos Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Tuesday, August 20th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Tuesday, August 20th. Danaos’s dividend payout ratio is currently 10.86%.

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.