Russell Investments Group Ltd. Sells 30,391 Shares of DHT Holdings, Inc. $DHT

Key Points

• Russell Investments Group Ltd. reduced its holdings in DHT Holdings, Inc. by 5.5%, now owning about 0.33% of the company, worth approximately $5.48 million.
• DHT Holdings recently increased its dividend to $0.24 per share, representing a yield of 8.4%, up from the previous $0.17 per share.
• The company's stock price is currently $11.41, with earnings of $0.24 per share reported for the latest quarter, beating estimates slightly.

Russell Investments Group Ltd. lowered its holdings in shares of DHT Holdings, Inc. (NYSE:DHT - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 522,289 shares of the shipping company's stock after selling 30,391 shares during the period. Russell Investments Group Ltd. owned about 0.33% of DHT worth $5,484,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. DME Capital Management LP raised its stake in shares of DHT by 20.8% during the fourth 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 last quarter. Northern Trust Corp raised its stake 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 valued at $14,107,000 after acquiring an additional 24,710 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 valued at $9,167,000 after acquiring an additional 99,197 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in shares of DHT during the fourth quarter valued at $8,126,000. Finally, Victory Capital Management Inc. raised its stake in shares of DHT by 5.5% during the first quarter. Victory Capital Management Inc. now owns 531,531 shares of the shipping company's stock valued at $5,581,000 after acquiring an additional 27,662 shares during the last quarter. Institutional investors own 58.53% of the company's stock.

DHT Trading Up 1.3%

NYSE DHT traded up $0.15 during mid-day trading on Wednesday, reaching $11.57. 908,769 shares of the stock were exchanged, compared to its average volume of 1,369,188. DHT Holdings, Inc. has a one year low of $8.67 and a one year high of $12.32. The stock has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $10.99. The stock has a market cap of $1.86 billion, a P/E ratio of 9.80 and a beta of 0.02. 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 results on Wednesday, August 6th. The shipping company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. DHT had a net margin of 36.58% and a return on equity of 16.36%. The firm had revenue of $92.80 million during the quarter, compared to the consensus estimate of $95.41 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business's revenue was down 10.5% compared to the same quarter last year. On average, analysts anticipate that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 8.3%. This is an increase from DHT's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, August 18th. DHT's payout ratio is presently 81.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $15.00 price target on shares of DHT in a research note on Thursday, August 7th. Zacks Research raised shares of DHT to a "hold" rating in a research note on Monday, August 11th. One investment 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's stock. Based on data from MarketBeat.com, DHT presently has a consensus rating of "Moderate Buy" and an average target price of $12.94.

DHT Company Profile

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.