Hi Line Capital Management LLC Acquires 28,365 Shares of Danaos Corporation $DAC

Hi Line Capital Management LLC increased its holdings in shares of Danaos Corporation (NYSE:DAC) by 98.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 57,133 shares of the shipping company’s stock after purchasing an additional 28,365 shares during the period. Danaos makes up approximately 1.6% of Hi Line Capital Management LLC’s holdings, making the stock its 25th largest position. Hi Line Capital Management LLC’s holdings in Danaos were worth $5,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in shares of Danaos by 15,500.0% during the second quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock worth $40,000 after buying an additional 465 shares during the last quarter. Raymond James Financial Inc. bought a new position in Danaos during the second quarter worth $64,000. Tower Research Capital LLC TRC acquired a new position in Danaos during the 2nd quarter valued at $67,000. TD Waterhouse Canada Inc. bought a new stake in Danaos in the 2nd quarter valued at $107,000. Finally, State of Wyoming grew its position in Danaos by 205.3% in the 2nd quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock worth $184,000 after purchasing an additional 1,431 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Stock Up 2.7%

DAC opened at $107.91 on Friday. The company has a market capitalization of $2.05 billion, a P/E ratio of 4.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.62 and a quick ratio of 4.51. The firm’s fifty day moving average price is $98.65 and its two-hundred day moving average price is $94.49. Danaos Corporation has a fifty-two week low of $65.40 and a fifty-two week high of $108.13.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.46 by $0.68. The company had revenue of $266.27 million during the quarter, compared to analysts’ expectations of $253.00 million. Danaos had a net margin of 47.45% and a return on equity of 13.50%. On average, analysts anticipate that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, February 23rd. This represents a $3.60 dividend on an annualized basis and a yield of 3.3%. Danaos’s dividend payout ratio (DPR) is currently 13.44%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus 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.