Northern Trust Corp Sells 35,835 Shares of DHT Holdings, Inc. $DHT

Key Points

• Northern Trust Corp decreased its stake in DHT Holdings, Inc. by 2.4%, selling 35,835 shares while still holding 1,482,644 shares valued at approximately $15.57 million.
• DHT recently announced a quarterly dividend of $0.24 per share, reflecting an annualized yield of 8.2%, up from the previous $0.17.
• The stock has a current market capitalization of $1.89 billion, with a P/E ratio of 9.95, and is being rated as a Moderate Buy by analysts, who have set an average price target of $12.94.

Northern Trust Corp cut its stake in shares of DHT Holdings, Inc. (NYSE:DHT - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,482,644 shares of the shipping company's stock after selling 35,835 shares during the quarter. Northern Trust Corp owned 0.92% of DHT worth $15,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. DME Capital Management LP boosted its holdings in DHT by 20.8% during 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 acquiring an additional 902,704 shares during the period. American Century Companies Inc. boosted its holdings in DHT by 8.7% during the 1st quarter. American Century Companies Inc. now owns 4,407,658 shares of the shipping company's stock valued at $46,280,000 after acquiring an additional 354,074 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in DHT by 11.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 986,793 shares of the shipping company's stock valued at $9,167,000 after acquiring an additional 99,197 shares during the period. Bridgeway Capital Management LLC purchased a new stake in DHT in the 4th quarter worth approximately $8,126,000. Finally, Raymond James Financial Inc. lifted its holdings in DHT by 19.3% in the 1st quarter. Raymond James Financial Inc. now owns 532,609 shares of the shipping company's stock worth $5,592,000 after buying an additional 86,115 shares during the period. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on DHT. Zacks Research upgraded DHT to a "hold" rating in a report on Monday, August 11th. Jefferies Financial Group reiterated a "buy" rating and issued a $15.00 price objective on shares of DHT in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.94.

DHT Trading Up 1.4%

NYSE DHT traded up $0.17 on Friday, hitting $12.44. The company's stock had a trading volume of 2,363,382 shares, compared to its average volume of 1,300,501. DHT Holdings, Inc. has a 52-week low of $8.67 and a 52-week high of $12.53. The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23. The company's 50-day simple moving average is $11.28 and its 200 day simple moving average is $11.03. The firm has a market cap of $2.00 billion, a P/E ratio of 10.54 and a beta of 0.03.

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

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.96 annualized dividend and a dividend yield of 7.7%. This is an increase from DHT's previous quarterly dividend of $0.17. DHT's dividend payout ratio is currently 81.36%.

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.