MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Hafnia Limited $HAFN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hafnia Limited by 62.3%, owning approximately 2.13 million shares valued at $8.74 million after acquiring additional shares during the first quarter.
• Hafnia recently declared a quarterly dividend of $0.121 per share, which represents a 7.8% yield annually, with the ex-dividend date set for September 4th.
• Fearnley Fonds downgraded Hafnia's stock from a "strong-buy" to a "hold", while the stock maintains an average rating of "Moderate Buy" with a consensus price target of $6.50.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Hafnia Limited (NYSE:HAFN - Free Report) by 62.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,130,888 shares of the company's stock after purchasing an additional 817,737 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.42% of Hafnia worth $8,738,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Hafnia by 86.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,642 shares of the company's stock valued at $90,000 after purchasing an additional 10,033 shares during the period. BNP Paribas Financial Markets purchased a new position in Hafnia during the fourth quarter worth about $1,472,000. Exchange Traded Concepts LLC purchased a new position in Hafnia during the first quarter worth about $117,000. TD Asset Management Inc boosted its stake in Hafnia by 38.5% during the first quarter. TD Asset Management Inc now owns 28,406 shares of the company's stock worth $116,000 after buying an additional 7,892 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Hafnia by 36.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 236,711 shares of the company's stock worth $1,318,000 after buying an additional 62,701 shares during the period.

Hafnia Stock Up 3.5%

HAFN stock traded up $0.22 during midday trading on Monday, reaching $6.29. 509,461 shares of the company were exchanged, compared to its average volume of 2,011,664. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.21. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 7.39 and a beta of 0.92. The stock's 50-day simple moving average is $5.66 and its 200 day simple moving average is $5.05. Hafnia Limited has a 1-year low of $3.61 and a 1-year high of $7.84.

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

Hafnia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, September 4th were given a dividend of $0.121 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.7%. Hafnia's dividend payout ratio (DPR) is 56.47%.

Analyst Upgrades and Downgrades

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

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.