Charles Schwab Investment Management Inc. Sells 136,418 Shares of DHT Holdings, Inc. $DHT

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in DHT Holdings, Inc. by 25.8%, selling 136,418 shares and owning 393,183 shares valued at approximately $4.12 million.
• DHT recently announced an increase in its quarterly dividend from $0.17 to $0.24 per share, which reflects an annualized dividend of $0.96 and a yield of 8.2%.
• Despite a decline in revenue compared to last year, DHT reported earnings of $0.24 per share, slightly above analysts' expectations of $0.23.

Charles Schwab Investment Management Inc. lowered its position in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 25.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 393,183 shares of the shipping company's stock after selling 136,418 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.24% of DHT worth $4,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DME Capital Management LP raised its position in shares of DHT by 20.8% in the 4th quarter. DME Capital Management LP now owns 5,245,984 shares of the shipping company's stock valued at $48,735,000 after buying an additional 902,704 shares in the last quarter. Northern Trust Corp increased its position in shares of DHT by 1.7% during the fourth quarter. Northern Trust Corp now owns 1,518,479 shares of the shipping company's stock worth $14,107,000 after buying an additional 24,710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of DHT by 11.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 986,793 shares of the shipping company's stock worth $9,167,000 after buying an additional 99,197 shares during the period. Bridgeway Capital Management LLC bought a new position in DHT during the fourth quarter worth $8,126,000. Finally, Victory Capital Management Inc. boosted its stake in DHT by 5.5% during the first quarter. Victory Capital Management Inc. now owns 531,531 shares of the shipping company's stock worth $5,581,000 after acquiring an additional 27,662 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company's stock.

DHT Trading Down 0.0%

DHT stock traded down $0.01 during mid-day trading on Friday, hitting $11.73. 813,726 shares of the company were exchanged, compared to its average volume of 1,328,290. DHT Holdings, Inc. has a 12-month low of $8.67 and a 12-month high of $12.32. The business has a fifty day simple moving average of $11.20 and a 200-day simple moving average of $10.99. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.88 billion, a P/E ratio of 9.94 and a beta of 0.02.

DHT (NYSE:DHT - Get Free Report) last released its earnings results on Wednesday, August 6th. The shipping company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. DHT had a return on equity of 16.36% and a net margin of 36.58%.The company had revenue of $92.80 million during the quarter, compared to the consensus estimate of $95.41 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The firm's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts predict that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend was Monday, August 18th. This is an increase from DHT's previous quarterly dividend of $0.17. DHT's payout ratio is 81.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $15.00 target price on shares of DHT in a research note on Thursday, August 7th. Zacks Research upgraded shares of DHT to a "hold" rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.94.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.