Hafnia (NYSE:HAFN) Sees Large Volume Increase – Here’s What Happened

Hafnia Limited (NYSE:HAFN) saw unusually-high trading volume on Tuesday . Approximately 580,799 shares traded hands during mid-day trading, an increase of 33% from the previous session’s volume of 436,190 shares.The stock last traded at $6.84 and had previously closed at $7.09.

Hafnia Trading Down 2.3 %

The stock has a market cap of $3.39 billion and a P/E ratio of 4.25. The company has a current ratio of 1.49, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $7.48.

Hafnia (NYSE:HAFN) last released its earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. The company had revenue of $417.36 million during the quarter, compared to analysts’ expectations of $387.14 million. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. Equities analysts expect that Hafnia Limited will post 1.6 EPS for the current fiscal year.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.4049 per share. This is a boost from Hafnia’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, September 3rd. This represents a $1.62 dividend on an annualized basis and a yield of 24.25%. Hafnia’s payout ratio is presently 103.19%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HAFN. Bank of New York Mellon Corp purchased a new position in Hafnia during the second quarter valued at $2,421,000. Allspring Global Investments Holdings LLC purchased a new position in Hafnia during the second quarter valued at $60,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Hafnia during the second quarter valued at $528,000. TD Asset Management Inc purchased a new position in Hafnia during the second quarter valued at $148,000. Finally, Acadian Asset Management LLC purchased a new position in Hafnia during the second quarter valued at $107,651,000.

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.