Rhumbline Advisers Lowers Stock Position in DHT Holdings, Inc. $DHT

Key Points

• Rhumbline Advisers has reduced its holdings in DHT Holdings, Inc. by 22.1%, selling 60,988 shares and retaining 214,485 shares valued at approximately $2.25 million.
• DHT Holdings recently declared a quarterly dividend of $0.24 per share, marking an increase from the previous $0.17 and giving the stock a 7.4% dividend yield.
• As of now, institutional investors own 58.53% of DHT's stock, with several firms like GAMMA Investing LLC and CWM LLC significantly increasing their stakes during the first quarter.

Rhumbline Advisers lessened its stake in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 22.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 214,485 shares of the shipping company's stock after selling 60,988 shares during the period. Rhumbline Advisers owned approximately 0.13% of DHT worth $2,252,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of DHT by 8.7% during the 1st quarter. American Century Companies Inc. now owns 4,407,658 shares of the shipping company's stock worth $46,280,000 after acquiring an additional 354,074 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of DHT during the 1st quarter valued at $19,950,000. Bridgeway Capital Management LLC lifted its stake in shares of DHT by 29.6% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,133,972 shares of the shipping company's stock valued at $11,907,000 after buying an additional 259,276 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of DHT by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,078,387 shares of the shipping company's stock valued at $11,323,000 after buying an additional 91,594 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of DHT by 85.0% during the 1st quarter. Empowered Funds LLC now owns 564,472 shares of the shipping company's stock valued at $5,927,000 after buying an additional 259,276 shares in the last quarter. Institutional investors own 58.53% of the company's stock.

DHT Trading Down 2.4%

NYSE:DHT traded down $0.31 during mid-day trading on Friday, hitting $12.49. 2,073,798 shares of the stock traded hands, compared to its average volume of 1,914,096. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 10.58 and a beta of 0.03. DHT Holdings, Inc. has a 52 week low of $8.67 and a 52 week high of $13.06. The firm's 50 day moving average is $11.58 and its two-hundred day moving average is $11.17. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The shipping company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $95.41 million. DHT had a net margin of 36.58% and a return on equity of 16.36%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. On average, equities research analysts predict that DHT Holdings, Inc. will post 0.94 earnings per share for the current 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 represents a $0.96 dividend on an annualized basis and a yield of 7.7%. This is an increase from DHT's previous quarterly dividend of $0.17. DHT's payout ratio is currently 81.36%.

Analyst Ratings Changes

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