Sterling Capital Management LLC boosted its holdings in DHT Holdings, Inc. (NYSE:DHT – Free Report) by 2,154.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,915 shares of the shipping company’s stock after acquiring an additional 22,854 shares during the quarter. Sterling Capital Management LLC’s holdings in DHT were worth $540,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Reyes Financial Architecture Inc. bought a new position in shares of DHT during the 3rd quarter valued at about $37,000. Western Wealth Management LLC purchased a new stake in DHT in the first quarter worth approximately $46,000. Triumph Capital Management boosted its stake in shares of DHT by 155.0% in the 2nd quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock valued at $61,000 after purchasing an additional 2,247 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of DHT by 32.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company’s stock valued at $89,000 after purchasing an additional 1,175 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of DHT during the 2nd quarter valued at $83,000. 58.53% of the stock is currently owned by institutional investors.
DHT Trading Up 1.4%
NYSE DHT opened at $24.48 on Thursday. The firm has a market capitalization of $3.94 billion, a PE ratio of 8.33 and a beta of -0.03. The stock’s 50 day moving average is $22.31 and its 200 day moving average is $18.56. DHT Holdings, Inc. has a twelve month low of $11.64 and a twelve month high of $26.91. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29.
DHT (NYSE:DHT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. DHT had a return on equity of 39.40% and a net margin of 65.52%. The business had revenue of $254.96 million during the quarter, compared to analyst estimates of $247.17 million. During the same quarter last year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 174.8% on a year-over-year basis.
DHT Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a dividend of $1.22 per share. This is a boost from DHT’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a yield of 19.9%. DHT’s dividend payout ratio is 165.99%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on DHT. Weiss Ratings upgraded shares of DHT from a “buy (b+)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. BTIG Research boosted their target price on DHT from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Finally, Evercore set a $26.00 price target on DHT in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, DHT presently has an average rating of “Moderate Buy” and a consensus price target of $23.33.
View Our Latest Stock Analysis on DHT
Insider Buying and Selling at DHT
In other DHT news, insider Jon Eglin sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $19.99, for a total value of $999,500.00. Following the sale, the insider directly owned 324,622 shares of the company’s stock, valued at approximately $6,489,193.78. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sophie Rossini sold 33,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $20.04, for a total value of $661,320.00. Following the completion of the sale, the director directly owned 78,543 shares in the company, valued at approximately $1,574,001.72. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 583,803 shares of company stock valued at $11,843,097 in the last ninety days.
DHT Profile
DHT Holdings, Inc (NYSE:DHT) is a maritime transportation company that owns and operates crude oil tankers. The company’s fleet is primarily composed of very large crude carriers (VLCCs), which transport large volumes of crude oil between major production and refining markets worldwide.
DHT provides ocean transportation services to energy companies, commodity traders and other customers through voyage charters, time charters and other commercial arrangements. Its operations include the commercial, technical and safety management of its vessels, with activities serving international crude oil trade routes across the Atlantic, Pacific and other major maritime regions.
Founded in 2005, DHT is incorporated in the Marshall Islands and has corporate and operational activities based in Bermuda, Norway and Singapore.
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