Hafnia Limited $HAFN Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Hafnia Limited by 12.3% in the second quarter, selling 100,590 shares, and holds just 0.14% of the company now, valued at approximately $3.58 million.
• Hafnia recently reported a quarterly earnings per share of $0.15, exceeding analyst expectations, with a revenue of $346.56 million compared to estimates of $249.42 million.
• The company declared a quarterly dividend of $0.121 per share, representing an annualized yield of 8.1%, with a payout ratio of 56.47%.

Public Employees Retirement System of Ohio cut its stake in shares of Hafnia Limited (NYSE:HAFN - Free Report) by 12.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 716,479 shares of the company's stock after selling 100,590 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.14% of Hafnia worth $3,584,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Naviter Wealth LLC acquired a new stake in shares of Hafnia during the first quarter valued at about $42,000. Avantax Advisory Services Inc. acquired a new stake in shares of Hafnia during the first quarter valued at about $47,000. Smith Anglin Financial LLC acquired a new stake in shares of Hafnia during the first quarter valued at about $52,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Hafnia by 86.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,642 shares of the company's stock valued at $90,000 after acquiring an additional 10,033 shares during the last quarter. Finally, Callan Capital LLC increased its position in shares of Hafnia by 27.5% during the first quarter. Callan Capital LLC now owns 25,622 shares of the company's stock valued at $107,000 after acquiring an additional 5,530 shares during the last quarter.

Hafnia Trading Up 0.1%

NYSE HAFN opened at $6.00 on Wednesday. The firm has a 50 day simple moving average of $5.89 and a 200-day simple moving average of $5.21. 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 one year low of $3.61 and a one year high of $7.54. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 7.05 and a beta of 0.93.

Hafnia (NYSE:HAFN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.15 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $249.42 million.

Hafnia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Thursday, September 4th were paid a $0.121 dividend. The ex-dividend date was Thursday, September 4th. This represents a $0.48 dividend on an annualized basis and a yield of 8.1%. Hafnia's payout ratio is currently 56.47%.

Analyst Ratings Changes

Separately, Fearnley Fonds cut shares of Hafnia from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

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.

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