Kettle Hill Capital Management LLC Acquires Shares of 335,484 DHT Holdings, Inc. $DHT

Key Points

• Kettle Hill Capital Management LLC has acquired a new stake in DHT Holdings, purchasing 335,484 shares valued at approximately $3.5 million, making DHT its 24th largest position.
• DHT Holdings has recently increased its dividend to $0.24 per share, up from $0.17, resulting in an annualized dividend of $0.96 and a yield of 7.8%.
• Analysts maintain a consensus rating of "Moderate Buy" for DHT, with a target price of $12.94, indicating potential growth prospects in the shipping sector.

Kettle Hill Capital Management LLC bought a new position in shares of DHT Holdings, Inc. (NYSE:DHT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 335,484 shares of the shipping company's stock, valued at approximately $3,523,000. DHT comprises about 1.0% of Kettle Hill Capital Management LLC's portfolio, making the stock its 24th biggest holding. Kettle Hill Capital Management LLC owned 0.21% of DHT at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC grew its position in DHT by 81.5% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock valued at $25,000 after buying an additional 1,073 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of DHT by 84.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock worth $26,000 after purchasing an additional 1,265 shares during the last quarter. CWM LLC boosted its holdings in DHT by 223.4% in the first quarter. CWM LLC now owns 3,063 shares of the shipping company's stock valued at $32,000 after acquiring an additional 2,116 shares in the last quarter. Harbour Investments Inc. lifted its position in DHT by 26.7% during the first quarter. Harbour Investments Inc. now owns 6,637 shares of the shipping company's stock valued at $70,000 after buying an additional 1,400 shares during the period. Finally, Xponance Inc. purchased a new position in shares of DHT in the 1st quarter worth about $106,000. Institutional investors and hedge funds own 58.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zacks Research upgraded DHT to a "hold" rating in a research note on Monday, August 11th. Jefferies Financial Group reaffirmed a "buy" rating and set a $15.00 price objective on shares of DHT in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $12.94.

DHT Stock Performance

Shares of DHT stock traded down $0.48 during trading hours on Tuesday, reaching $12.15. 2,823,415 shares of the company's stock were exchanged, compared to its average volume of 1,753,010. DHT Holdings, Inc. has a 1 year low of $8.67 and a 1 year high of $12.93. The company has a market cap of $1.95 billion, a P/E ratio of 10.30 and a beta of 0.03. The company's 50 day moving average is $11.32 and its two-hundred day moving average is $11.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.33 and a quick ratio of 1.96.

DHT (NYSE:DHT - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $92.80 million for the quarter, compared to analysts' expectations of $95.41 million. DHT had a return on equity of 16.36% and a net margin of 36.58%.The business's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.24 dividend. The ex-dividend date was Monday, August 18th. This is an increase from DHT's previous quarterly dividend of $0.17. This represents a $0.96 dividend on an annualized basis and a yield of 7.9%. DHT's payout ratio is presently 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.