Baer Investment Advisory LLC Invests $794,000 in Danaos Corporation $DAC

Baer Investment Advisory LLC acquired a new position in Danaos Corporation (NYSE:DAC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,050 shares of the shipping company’s stock, valued at approximately $794,000.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Danaos by 18.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,179 shares of the shipping company’s stock worth $8,817,000 after purchasing an additional 15,345 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Danaos during the third quarter valued at about $817,000. Shikiar Asset Management Inc. purchased a new stake in Danaos in the fourth quarter worth about $603,000. Diversified Trust Co purchased a new stake in Danaos in the first quarter worth about $498,000. Finally, Midwest Professional Planners LTD. bought a new position in shares of Danaos in the fourth quarter worth about $487,000. 19.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DAC shares. Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings lowered shares of Danaos from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, June 29th. Finally, Freedom Capital upgraded shares of Danaos to a “hold” rating in a research note on Tuesday, March 10th. 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. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $105.00.

Danaos Stock Up 0.9%

DAC opened at $123.39 on Friday. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 4.35 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66. The firm’s fifty day moving average is $127.54 and its 200 day moving average is $113.83. Danaos Corporation has a fifty-two week low of $83.56 and a fifty-two week high of $135.21.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.86 by $0.86. The business had revenue of $253.70 million during the quarter, compared to analyst estimates 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 disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, May 26th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.9%. Danaos’s dividend payout ratio is 12.70%.

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.