Erik Lind Sells 30,000 Shares of DHT (NYSE:DHT) Stock

Key Points

• Director Erik Lind sold 30,000 DHT shares at an average price of $22.46, generating $673,800. His remaining 132,294-share stake declined by 18.48%.
• DHT reported strong quarterly results, with EPS of $1.22 exceeding estimates and revenue rising 174.8% year over year to $254.96 million.
• The company increased its quarterly dividend to $1.22 per share, implying an annualized dividend of $4.88 and a 21.2% yield, although its payout ratio is high at 165.99%.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) Director Erik Lind sold 30,000 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $22.46, for a total transaction of $673,800.00. Following the sale, the director directly owned 132,294 shares in the company, valued at approximately $2,971,323.24. This represents a 18.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

DHT Price Performance

Shares of NYSE:DHT opened at $23.06 on Thursday. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 7.84 and a beta of -0.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. The business's 50 day simple moving average is $19.22 and its 200-day simple moving average is $18.34. DHT Holdings, Inc. has a 12 month low of $10.83 and a 12 month high of $23.46.

DHT (NYSE:DHT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.04. The company had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. DHT had a return on equity of 39.40% and a net margin of 65.52%.DHT's quarterly revenue was up 174.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a dividend of $1.22 per share. This is a positive change from DHT's previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 21.2%. DHT's dividend payout ratio is 165.99%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised DHT from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, September 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, DHT has an average rating of "Moderate Buy" and a consensus price target of $19.33.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd acquired a new position in DHT during the second quarter worth approximately $237,000. Integrated Wealth Concepts LLC purchased a new stake in shares of DHT during the 2nd quarter valued at $83,000. Raiffeisen Bank International AG grew its stake in shares of DHT by 42.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 110,031 shares of the shipping company's stock valued at $1,819,000 after buying an additional 32,765 shares during the period. AXQ Capital LP acquired a new stake in shares of DHT during the 2nd quarter worth $641,000. Finally, Triumph Capital Management increased its holdings in shares of DHT by 155.0% during the 2nd quarter. Triumph Capital Management now owns 3,697 shares of the shipping company's stock worth $61,000 after buying an additional 2,247 shares during the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

About DHT

DHT Holdings, Inc NYSE: DHT is a maritime transportation company that owns and operates crude oil tankers. Its fleet is primarily composed of very large crude carriers (VLCCs), which transport crude oil in international seaborne trade.

The company provides tanker transportation services to energy companies, commodity traders and other customers through a combination of voyage charters, time charters and related commercial arrangements. Its vessels serve major global crude oil trade routes linking oil-producing regions with refineries and consuming markets.

DHT was established in 2005 and is headquartered in Hamilton, Bermuda, with operations and commercial activities supported through international offices.

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