Bank of New York Mellon Corp Lowers Holdings in Hafnia Limited (NYSE:HAFN)

Key Points

• Bank of New York Mellon Corp reduced its stake in Hafnia Limited by 48.0%, selling 275,217 shares and now holding approximately 0.06% of the company valued at $1.24 million.
• Other hedge funds have made significant adjustments to their positions in Hafnia, with Marshall Wace LLP increasing its stake by 1,775.4% during the fourth quarter.
• Hafnia reported earnings of $0.13 EPS and revenue of $340.34 million for the quarter, exceeding analyst expectations significantly.

Bank of New York Mellon Corp lowered its position in Hafnia Limited (NYSE:HAFN - Free Report) by 48.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,608 shares of the company's stock after selling 275,217 shares during the period. Bank of New York Mellon Corp owned approximately 0.06% of Hafnia worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. WealthCollab LLC bought a new stake in shares of Hafnia during the fourth quarter valued at approximately $28,000. Naviter Wealth LLC purchased a new stake in Hafnia during the first quarter worth $42,000. Smith Anglin Financial LLC purchased a new stake in Hafnia during the first quarter worth $52,000. Bernard Wealth Management Corp. purchased a new stake in Hafnia during the fourth quarter worth $58,000. Finally, Vise Technologies Inc. purchased a new stake in Hafnia during the fourth quarter worth $71,000.

Analyst Upgrades and Downgrades

Separately, Fearnley Fonds upgraded Hafnia to a "strong-buy" rating in a report on Tuesday, May 6th.

Hafnia Stock Up 2.9%

Hafnia stock traded up $0.16 during mid-day trading on Monday, reaching $5.63. 478,486 shares of the company were exchanged, compared to its average volume of 2,141,684. The business has a fifty day moving average of $5.30 and a 200 day moving average of $4.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 1.24. Hafnia Limited has a 12-month low of $3.61 and a 12-month high of $8.26. The firm has a market cap of $2.85 billion, a P/E ratio of 4.66 and a beta of 0.90.

Hafnia (NYSE:HAFN - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Hafnia had a net margin of 45.74% and a return on equity of 26.29%. The business had revenue of $340.34 million for the quarter, compared to analyst estimates of $250.80 million.

Hafnia Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, June 4th. Stockholders of record on Monday, May 26th were issued a dividend of $0.1015 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a dividend yield of 759.0%. Hafnia's payout ratio is 33.06%.

About Hafnia

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.