Strs Ohio Acquires New Stake in DHT Holdings, Inc. $DHT

Key Points

• Strs Ohio acquired a new stake of 63,400 shares in DHT during Q4 (about $774,000), and institutional investors now own roughly 58.53% of the company.
• DHT beat quarterly estimates with EPS of $0.64 vs. $0.62 and revenue of $157.2M (up 134.9% YoY), reporting strong profitability metrics including a 58.54% net margin and 27.54% ROE.
• The board raised the quarterly dividend to $0.64 (annualized $2.56) for a yield of 13.4% and a 79.6% payout ratio, while analyst ratings are mixed (average "Moderate Buy") with an average price target of $19.33 and top targets as high as $23.00.

Strs Ohio acquired a new stake in DHT Holdings, Inc. (NYSE:DHT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 63,400 shares of the shipping company's stock, valued at approximately $774,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of DHT by 0.6% in the 2nd quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company's stock valued at $1,918,000 after buying an additional 1,114 shares during the period. Federated Hermes Inc. raised its holdings in shares of DHT by 101.6% in the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company's stock valued at $32,000 after buying an additional 1,368 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of DHT by 91.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company's stock valued at $36,000 after buying an additional 1,596 shares during the period. Osaic Holdings Inc. raised its holdings in shares of DHT by 4.5% in the 2nd quarter. Osaic Holdings Inc. now owns 37,567 shares of the shipping company's stock valued at $406,000 after buying an additional 1,634 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of DHT by 96.5% in the 3rd quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company's stock valued at $50,000 after buying an additional 2,042 shares during the period. Hedge funds and other institutional investors own 58.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DHT shares. Wall Street Zen upgraded DHT from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Dnb Carnegie downgraded DHT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of DHT in a report on Monday, April 20th. BTIG Research upped their price target on DHT from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Finally, Evercore downgraded DHT from an "outperform" rating to an "in-line" rating and set a $19.00 price target on the stock. in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, DHT presently has an average rating of "Moderate Buy" and an average price target of $19.33.

DHT Price Performance

Shares of NYSE DHT opened at $19.04 on Friday. The stock's 50-day moving average is $18.15 and its two-hundred day moving average is $15.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 2.47. DHT Holdings, Inc. has a 1-year low of $10.61 and a 1-year high of $20.55. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 9.24 and a beta of -0.08.

DHT (NYSE:DHT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The shipping company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $157.20 million for the quarter, compared to the consensus estimate of $152.15 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.DHT's revenue was up 134.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 EPS.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $2.56 annualized dividend and a dividend yield of 13.4%. This is an increase from DHT's previous quarterly dividend of $0.41. DHT's payout ratio is currently 79.61%.

DHT Company Profile

DHT Holdings, Inc NYSE: DHT is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.

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