Acadian Asset Management LLC Has $66.56 Million Holdings in Hafnia Limited $HAFN

Key Points

• Acadian Asset Management LLC reduced its stake in Hafnia Limited by 5.8%, bringing its ownership to approximately 16,241,293 shares valued at $66.56 million.
• Hafnia recently reported quarterly earnings, exceeding analysts' expectations with $346.56 million in revenue and an EPS of $0.15.
• The company declared a quarterly dividend of $0.121 per share, resulting in a dividend yield of 7.9% based on an annualized payout of $0.48.

Acadian Asset Management LLC lessened its stake in shares of Hafnia Limited (NYSE:HAFN - Free Report) by 5.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,241,293 shares of the company's stock after selling 996,556 shares during the quarter. Acadian Asset Management LLC owned approximately 3.20% of Hafnia worth $66,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Hafnia by 8.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 33,249 shares of the company's stock worth $138,000 after buying an additional 2,591 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Hafnia by 11.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 33,126 shares of the company's stock worth $178,000 after buying an additional 3,387 shares during the last quarter. Callan Capital LLC grew its stake in shares of Hafnia by 27.5% during the first quarter. Callan Capital LLC now owns 25,622 shares of the company's stock worth $107,000 after buying an additional 5,530 shares during the last quarter. U S Global Investors Inc. grew its stake in shares of Hafnia by 12.6% during the first quarter. U S Global Investors Inc. now owns 63,643 shares of the company's stock worth $262,000 after buying an additional 7,135 shares during the last quarter. Finally, Sigma Planning Corp grew its stake in shares of Hafnia by 20.3% in the first quarter. Sigma Planning Corp now owns 44,450 shares of the company's stock worth $185,000 after purchasing an additional 7,500 shares during the last quarter.

Hafnia Trading Up 0.1%

HAFN traded up $0.01 during trading on Tuesday, reaching $6.32. 553,680 shares of the stock traded hands, compared to its average volume of 2,007,470. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $3.20 billion, a PE ratio of 7.43 and a beta of 0.93. The stock's 50-day moving average is $5.68 and its 200 day moving average is $5.07. Hafnia Limited has a 12 month low of $3.61 and a 12 month high of $7.84.

Hafnia (NYSE:HAFN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. Hafnia had a net margin of 37.26% and a return on equity of 18.74%. The business had revenue of $346.56 million for the quarter, compared to analysts' expectations of $249.42 million.

Hafnia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.121 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.48 annualized dividend and a dividend yield of 7.7%. Hafnia's dividend payout ratio is currently 56.47%.

Analysts Set New Price Targets

Separately, Fearnley Fonds cut shares of Hafnia from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

Hafnia Company Profile

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.