Tweedy Browne Co LLC Grows Position in Hafnia Limited $HAFN

Key Points

• Tweedy Browne Co LLC increased its stake in Hafnia Limited by 171.9%, acquiring an additional 48,434 shares during the second quarter, now holding 76,617 shares valued at $382,000.
• Hafnia Limited reported earnings of $0.15 per share, surpassing forecasts, with a revenue of $346.56 million for the quarter, significantly exceeding analyst expectations.
• The company declared a quarterly dividend of $0.121 per share, resulting in an annualized dividend yield of 8.2% with a payout ratio of 56.47%.

Tweedy Browne Co LLC increased its position in Hafnia Limited (NYSE:HAFN - Free Report) by 171.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,617 shares of the company's stock after buying an additional 48,434 shares during the quarter. Tweedy Browne Co LLC's holdings in Hafnia were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HAFN. Cambridge Investment Research Advisors Inc. grew its holdings in Hafnia by 86.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,642 shares of the company's stock worth $90,000 after acquiring an additional 10,033 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Hafnia during the second quarter worth about $932,000. Exchange Traded Concepts LLC bought a new stake in shares of Hafnia in the first quarter worth about $117,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hafnia by 62.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,130,888 shares of the company's stock valued at $8,738,000 after purchasing an additional 817,737 shares during the period. Finally, TD Asset Management Inc increased its holdings in Hafnia by 38.5% during the 1st quarter. TD Asset Management Inc now owns 28,406 shares of the company's stock valued at $116,000 after purchasing an additional 7,892 shares during the period.

Hafnia Stock Up 1.9%

NYSE:HAFN opened at $5.88 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 1.09. The firm's 50-day moving average price is $5.97 and its 200-day moving average price is $5.34. The company has a market capitalization of $2.98 billion, a PE ratio of 6.92 and a beta of 0.90. Hafnia Limited has a 1-year low of $3.61 and a 1-year high of $6.70.

Hafnia (NYSE:HAFN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $249.42 million.

Hafnia Announces Dividend

The business 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 annualized dividend and a dividend yield of 8.2%. Hafnia's dividend payout ratio is presently 56.47%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HAFN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Hafnia in a report on Wednesday, October 8th. Fearnley Fonds downgraded Hafnia from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hafnia presently has an average rating of "Hold" 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.

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