Midwest Professional Planners LTD. Makes New $487,000 Investment in Danaos Corporation $DAC

Midwest Professional Planners LTD. bought a new position in shares of Danaos Corporation (NYSE:DAC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,166 shares of the shipping company’s stock, valued at approximately $487,000.

A number of other institutional investors have also recently bought and sold shares of DAC. Cubist Systematic Strategies LLC bought a new position in shares of Danaos during the first quarter worth $223,000. Goldman Sachs Group Inc. boosted its position in shares of Danaos by 183.6% during the first quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock worth $3,606,000 after purchasing an additional 29,921 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Danaos by 39.8% during the second quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company’s stock worth $7,144,000 after purchasing an additional 23,593 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Danaos during the second quarter worth $276,000. Finally, Jump Financial LLC bought a new position in shares of Danaos during the second quarter worth $1,682,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DAC. Weiss Ratings raised shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, May 6th. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Freedom Capital raised shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $105.00.

Danaos Trading Down 1.8%

Shares of NYSE:DAC opened at $129.64 on Wednesday. The company’s 50-day moving average price is $118.63 and its two-hundred day moving average price is $106.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40. Danaos Corporation has a one year low of $82.75 and a one year high of $135.21. The stock has a market capitalization of $2.36 billion, a PE ratio of 4.57 and a beta of 0.90.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 EPS for the quarter, topping the consensus estimate of $5.86 by $0.86. The firm had revenue of $253.70 million for the quarter, compared to analysts’ expectations of $242.20 million. Danaos had a net margin of 49.85% and a return on equity of 13.18%.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, May 26th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $3.60 dividend on an annualized basis and a yield of 2.8%. 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.