Mirae Asset Global Investments Co. Ltd. Makes New $812,000 Investment in Danaos Corporation $DAC

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Danaos Corporation (NYSE:DAC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,260 shares of the shipping company’s stock, valued at approximately $812,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Verdence Capital Advisors LLC purchased a new stake in Danaos during the third quarter valued at $204,000. Signaturefd LLC boosted its position in Danaos by 72.8% in the third quarter. Signaturefd LLC now owns 3,687 shares of the shipping company’s stock worth $569,000 after purchasing an additional 1,553 shares during the last quarter. Foster Group Inc. purchased a new position in Danaos in the third quarter worth about $215,000. Perpetual Ltd purchased a new position in Danaos in the third quarter worth about $546,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Danaos during the 2nd quarter valued at about $230,000. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Danaos Trading Up 0.2%

Shares of DAC stock opened at $148.42 on Monday. Danaos Corporation has a 1 year low of $91.48 and a 1 year high of $172.76. The firm has a fifty day moving average price of $157.82 and a 200-day moving average price of $131.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 9.30 and a quick ratio of 9.15. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 5.02 and a beta of 0.94.

Danaos Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Tuesday, October 13th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.7%. This is a boost from Danaos’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, October 13th. Danaos’s dividend payout ratio (DPR) is presently 13.54%.

Analyst Ratings Changes

DAC has been the subject of several research reports. Weiss Ratings raised shares of Danaos from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Freedom Capital raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating. According to data from MarketBeat, the stock has an average rating of “Strong Buy”.

About Danaos

Danaos Corporation is an international owner and operator of containerships that charters its vessels to major liner companies. Its ships support global cargo transportation, while the company provides vessel operations and technical management services.

Founded in 1972, Danaos has grown from a family shipping business into a major independent containership owner. It has also expanded into dry bulk shipping, with vessels serving the seaborne transport of commodities.

Headquartered in Piraeus, Greece, Danaos serves customers involved in international trade across global shipping routes.