DHT (NYSE:DHT) Insider Jon Stephen Eglin Sells 50,000 Shares of Stock

Key Points

• Insider sale: Jon Stephen Eglin sold 50,000 DHT shares at an average of $19.99, generating approximately $999,500. He now directly owns 324,622 shares, a 13.35% reduction in his holdings.
• Strong quarterly results: DHT reported earnings of $1.22 per share, beating estimates by $0.04, while revenue rose 174.8% year over year to $254.96 million.
• Dividend increase: The company raised its quarterly dividend to $1.22 per share, equivalent to an annualized $4.88 payout and a reported yield of 24.7%.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) insider Jon Stephen Eglin sold 50,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $19.99, for a total value of $999,500.00. Following the transaction, the insider directly owned 324,622 shares in the company, valued at $6,489,193.78. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

DHT Price Performance

Shares of NYSE DHT opened at $19.78 on Friday. DHT Holdings, Inc. has a fifty-two week low of $10.83 and a fifty-two week high of $20.55. The firm's 50-day simple moving average is $18.25 and its 200 day simple moving average is $17.74. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.19 billion, a P/E ratio of 6.73 and a beta of -0.11.

DHT (NYSE:DHT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.04. The firm had revenue of $254.96 million during the quarter, compared to analyst estimates of $247.17 million. DHT had a net margin of 65.52% and a return on equity of 39.40%. DHT's revenue was up 174.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, August 17th. This is a positive change from DHT's previous quarterly dividend of $0.64. This represents a $4.88 annualized dividend and a yield of 24.7%. DHT's dividend payout ratio is presently 165.99%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DHT. Weiss Ratings upgraded DHT from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, August 7th. Wall Street Zen raised DHT from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Triumph Capital Management raised its position in shares of DHT by 155.0% during the second quarter. Triumph Capital Management now owns 3,697 shares of the shipping company's stock worth $61,000 after purchasing an additional 2,247 shares during the period. Headlands Technologies LLC acquired a new position in shares of DHT in the 2nd quarter valued at $299,000. Navellier & Associates Inc. purchased a new position in DHT in the 2nd quarter worth about $3,558,000. Wellington Management Group LLP increased its stake in DHT by 36.6% in the 2nd quarter. Wellington Management Group LLP now owns 29,616 shares of the shipping company's stock worth $490,000 after purchasing an additional 7,934 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in DHT during the 2nd quarter worth about $1,437,000. Institutional investors own 58.53% of the company's stock.

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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