SEB Asset Management AB Acquires New Shares in Danaos Corporation $DAC

SEB Asset Management AB bought a new position in shares of Danaos Corporation (NYSE:DAC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,877 shares of the shipping company’s stock, valued at approximately $437,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DAC. Morgan Dempsey Capital Management LLC boosted its stake in shares of Danaos by 15.6% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 5,273 shares of the shipping company’s stock valued at $594,000 after purchasing an additional 711 shares in the last quarter. U S Global Investors Inc. increased its position in Danaos by 195.9% during the 1st quarter. U S Global Investors Inc. now owns 6,418 shares of the shipping company’s stock worth $723,000 after purchasing an additional 4,249 shares in the last quarter. DGS Capital Management LLC increased its position in Danaos by 15.5% during the 1st quarter. DGS Capital Management LLC now owns 30,394 shares of the shipping company’s stock worth $3,424,000 after purchasing an additional 4,084 shares in the last quarter. Ascentis Independent Advisors bought a new position in Danaos in the 1st quarter valued at approximately $56,000. Finally, Baer Investment Advisory LLC bought a new position in Danaos in the 1st quarter valued at approximately $794,000. Institutional investors own 19.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on DAC shares. Weiss Ratings raised shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 14th. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $105.00.

Danaos Stock Performance

NYSE:DAC opened at $139.93 on Friday. The stock has a market cap of $2.55 billion, a P/E ratio of 4.94 and a beta of 0.89. The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26. The stock’s 50-day moving average is $128.42 and its 200-day moving average is $117.55. Danaos Corporation has a 1-year low of $83.56 and a 1-year high of $140.66.

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

Danaos Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, July 21st. Danaos’s dividend payout ratio is 12.70%.

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.