Midwest Professional Planners LTD. Purchases 11,670 Shares of Danaos Corporation $DAC

Midwest Professional Planners LTD. boosted its holdings in shares of Danaos Corporation (NYSE:DAC) by 225.1% during the second quarter, Holdings Channel reports. The institutional investor owned 16,855 shares of the shipping company’s stock after acquiring an additional 11,670 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Danaos were worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC lifted its holdings in shares of Danaos by 3.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,671 shares of the shipping company’s stock worth $440,000 after acquiring an additional 165 shares during the period. Parallel Advisors LLC increased its stake in Danaos by 33.2% in the first quarter. Parallel Advisors LLC now owns 1,171 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 292 shares during the period. State Street Corp raised its position in Danaos by 2.4% in the fourth quarter. State Street Corp now owns 15,761 shares of the shipping company’s stock worth $1,484,000 after purchasing an additional 372 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Danaos during the fourth quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Danaos by 165.0% in the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 485 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Stock Performance

Danaos stock opened at $150.99 on Wednesday. The stock has a 50-day simple moving average of $136.54 and a 200 day simple moving average of $125.87. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 5.11 and a beta of 0.89. The company has a quick ratio of 9.15, a current ratio of 9.30 and a debt-to-equity ratio of 0.29. Danaos Corporation has a 12-month low of $83.56 and a 12-month high of $152.98.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 EPS for the quarter, topping analysts’ consensus estimates of $6.80 by $0.49. The firm had revenue of $274.37 million for the quarter, compared to analyst estimates of $258.27 million. Danaos had a net margin of 51.26% and a return on equity of 13.20%.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Tuesday, July 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, July 21st. Danaos’s dividend payout ratio is 12.18%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings upgraded Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. Freedom Capital raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Danaos 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.