Navellier & Associates Inc. acquired a new position in shares of DHT Holdings, Inc. (NYSE:DHT – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 215,222 shares of the shipping company’s stock, valued at approximately $3,558,000. Navellier & Associates Inc. owned about 0.13% of DHT at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of DHT by 178.9% in the 1st quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company’s stock valued at $741,000 after purchasing an additional 45,275 shares during the period. Envestnet Asset Management Inc. bought a new stake in DHT in the second quarter worth approximately $171,000. Creative Planning lifted its stake in DHT by 34.1% in the second quarter. Creative Planning now owns 15,189 shares of the shipping company’s stock valued at $164,000 after buying an additional 3,859 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of DHT by 11.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company’s stock worth $4,325,000 after buying an additional 40,574 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of DHT during the 2nd quarter worth approximately $162,000. 58.53% of the stock is currently owned by institutional investors.
Insider Activity
In other DHT news, CFO Laila Cecilie Halvorsen sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $20.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer directly owned 161,011 shares of the company’s stock, valued at $3,220,220. This trade represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Svenn Magne Edvardsen sold 341,007 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $20.29, for a total value of $6,919,032.03. Following the completion of the sale, the director owned 395,705 shares in the company, valued at $8,028,854.45. This represents a 46.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 528,803 shares of company stock worth $10,644,297. 1.60% of the stock is owned by insiders.
Analysts Set New Price Targets
Get Our Latest Analysis on DHT
DHT Stock Up 1.6%
DHT opened at $19.66 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. The company’s 50-day moving average is $18.37 and its 200 day moving average is $17.93. DHT Holdings, Inc. has a fifty-two week low of $10.83 and a fifty-two week high of $20.62. The firm has a market capitalization of $3.17 billion, a P/E ratio of 6.69 and a beta of -0.11.
DHT (NYSE:DHT – Get Free Report) last released its earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.04. The company had revenue of $254.96 million during the quarter, compared to analyst estimates of $247.17 million. DHT had a return on equity of 39.40% and a net margin of 65.52%.DHT’s quarterly revenue was up 174.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share.
DHT Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a $1.22 dividend. This is a boost from DHT’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a yield of 24.8%. DHT’s dividend payout ratio is currently 165.99%.
About DHT
DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.
Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.
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