Bank of New York Mellon Corp Decreases Stake 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 holdings in shares of Hafnia Limited (NYSE:HAFN - Free Report) by 48.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. WealthCollab LLC bought a new position in shares of Hafnia in the fourth quarter worth approximately $28,000. Naviter Wealth LLC purchased a new position in Hafnia in the 1st quarter worth about $42,000. Smith Anglin Financial LLC bought a new position in Hafnia during the 1st quarter worth about $52,000. Bernard Wealth Management Corp. purchased a new position in shares of Hafnia in the 4th quarter worth approximately $58,000. Finally, Vise Technologies Inc. acquired a new stake in Hafnia in the 4th quarter worth approximately $71,000.

Hafnia Trading Down 0.5%

Shares of HAFN stock traded down $0.03 on Friday, hitting $5.47. 1,044,518 shares of the stock traded hands, compared to its average volume of 1,007,354. The stock has a market capitalization of $2.77 billion, a PE ratio of 4.52 and a beta of 0.90. Hafnia Limited has a twelve month low of $3.61 and a twelve month high of $8.26. The firm's 50-day moving average price is $5.30 and its two-hundred day moving average price is $4.92. 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 (NYSE:HAFN - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Hafnia had a net margin of 45.74% and a return on equity of 26.29%. The firm had revenue of $340.34 million for the quarter, compared to analyst estimates of $250.80 million.

Hafnia Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, June 4th. Investors of record on Monday, May 26th were given a $0.1015 dividend. This represents a yield of 759.0%. The ex-dividend date was Friday, May 23rd. Hafnia's dividend payout ratio (DPR) is 33.88%.

Analysts Set New Price Targets

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

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.