Hafnia (NYSE:HAFN) Hits New 12-Month Low – Here’s Why

Shares of Hafnia Limited (NYSE:HAFN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $5.66 and last traded at $5.70, with a volume of 183385 shares. The stock had previously closed at $5.78.

Hafnia Stock Down 1.7 %

The business has a 50-day moving average price of $7.13 and a 200-day moving average price of $7.68. The stock has a market cap of $2.88 billion and a PE ratio of 3.68. The company has a current ratio of 1.49, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

Hafnia (NYSE:HAFN) last announced its earnings results on Friday, August 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.09. The company had revenue of $417.36 million for the quarter, compared to analysts’ expectations of $387.14 million. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. As a group, analysts forecast that Hafnia Limited will post 1.59 earnings per share for the current year.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. This is a boost from Hafnia’s previous quarterly dividend of $0.34. This represents a $1.62 annualized dividend and a yield of 28.51%. The ex-dividend date was Tuesday, September 3rd. Hafnia’s dividend payout ratio (DPR) is presently 103.19%.

Institutional Trading of Hafnia

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Hafnia in the 2nd quarter valued at about $107,651,000. Hsbc Holdings PLC acquired a new position in shares of Hafnia in the second quarter valued at approximately $24,514,000. DekaBank Deutsche Girozentrale purchased a new stake in Hafnia during the 2nd quarter worth approximately $23,646,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Hafnia during the 2nd quarter worth approximately $4,327,000. Finally, Bank of New York Mellon Corp purchased a new position in Hafnia in the 2nd quarter valued at approximately $2,421,000.

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.