Acadian Asset Management LLC Cuts Stock 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 cut its stake in shares of Hafnia Limited (NYSE:HAFN - Free Report) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its position in shares of Hafnia by 8.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 33,249 shares of the company's stock worth $138,000 after acquiring an additional 2,591 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Hafnia by 11.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,126 shares of the company's stock valued at $178,000 after buying an additional 3,387 shares in the last quarter. Callan Capital LLC increased its position in Hafnia by 27.5% in the 1st quarter. Callan Capital LLC now owns 25,622 shares of the company's stock valued at $107,000 after buying an additional 5,530 shares in the last quarter. U S Global Investors Inc. increased its position in Hafnia by 12.6% in the 1st quarter. U S Global Investors Inc. now owns 63,643 shares of the company's stock valued at $262,000 after buying an additional 7,135 shares in the last quarter. Finally, Sigma Planning Corp increased its position in Hafnia by 20.3% in the 1st quarter. Sigma Planning Corp now owns 44,450 shares of the company's stock valued at $185,000 after buying an additional 7,500 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Fearnley Fonds lowered Hafnia from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $6.50.

Hafnia Stock Performance

HAFN stock traded up $0.02 during midday trading on Friday, reaching $6.07. 1,122,377 shares of the company's stock traded hands, compared to its average volume of 1,271,296. The company has a 50-day moving average price of $5.66 and a two-hundred day moving average price of $5.05. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.21. Hafnia Limited has a 52 week low of $3.61 and a 52 week high of $7.84. The firm has a market capitalization of $3.08 billion, a PE ratio of 7.14 and a beta of 0.93.

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

Hafnia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Thursday, September 4th were paid a $0.121 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend was Thursday, September 4th. Hafnia's dividend payout ratio is currently 56.47%.

Hafnia 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.