Russell Investments Group Ltd. Cuts Holdings in 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. reduced its position in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 522,289 shares of the shipping company's stock after selling 30,391 shares during the quarter. Russell Investments Group Ltd. owned about 0.33% of DHT worth $5,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of DHT by 81.5% in the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock worth $25,000 after buying an additional 1,073 shares during the period. Tower Research Capital LLC TRC increased its holdings in DHT by 84.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock valued at $26,000 after purchasing an additional 1,265 shares in the last quarter. CWM LLC increased its holdings in DHT by 223.4% in the 1st quarter. CWM LLC now owns 3,063 shares of the shipping company's stock valued at $32,000 after purchasing an additional 2,116 shares in the last quarter. Banque Transatlantique SA acquired a new stake in DHT in the 4th quarter valued at $37,000. Finally, Sterling Capital Management LLC increased its holdings in DHT by 822.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,325 shares of the shipping company's stock valued at $40,000 after purchasing an additional 3,856 shares in the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Stock Up 4.0%

Shares of NYSE DHT opened at $11.4120 on Friday. The stock has a fifty day moving average price of $11.25 and a 200 day moving average price of $10.99. 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 has a market cap of $1.83 billion, a P/E ratio of 9.67 and a beta of 0.02. DHT Holdings, Inc. has a 12-month low of $8.67 and a 12-month high of $12.32.

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

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.24 per share. This is a boost from DHT's previous quarterly dividend of $0.17. This represents a $0.96 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Monday, August 18th. DHT's payout ratio is 81.36%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group reiterated a "buy" rating and issued a $15.00 price target on shares of DHT in a report on Thursday, August 7th. Zacks Research upgraded DHT to a "hold" rating in a report on Monday, August 11th. 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's stock. Based on data from MarketBeat.com, the company currently has a consensus 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.

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