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

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

Hafnia Stock Down 0.5 %

The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $7.03 and its 200 day simple moving average is $7.65. The firm has a market cap of $2.87 billion and a P/E ratio of 3.61.

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

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. This is an increase from Hafnia’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.62 annualized dividend and a dividend yield of 28.61%. Hafnia’s dividend payout ratio (DPR) is 103.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HAFN. DekaBank Deutsche Girozentrale raised its stake in Hafnia by 10.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after buying an additional 290,000 shares during the period. Marshall Wace LLP bought a new position in shares of Hafnia in the 2nd quarter worth $1,025,000. Glenorchy Capital Ltd acquired a new stake in Hafnia in the 3rd quarter valued at $726,000. Acadian Asset Management LLC bought a new stake in Hafnia during the 2nd quarter valued at $107,651,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Hafnia during the second quarter worth $4,327,000.

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.