Insider Selling: DHT (NYSE:DHT) Director Sells $6,919,032.03 in Stock

Key Points

• DHT director Svenn Magne Edvardsen sold 341,007 shares at an average price of $20.29, generating approximately $6.92 million. The transaction reduced his ownership by 46.29%, leaving him with 395,705 shares.
• DHT reported quarterly EPS of $1.22, exceeding estimates of $1.18, while revenue rose 174.8% year over year to $254.96 million.
• The company increased its quarterly dividend to $1.22 per share, equivalent to a $4.88 annualized payout and a 24.7% yield, though its payout ratio stands at 165.99%.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) Director Svenn Magne Edvardsen sold 341,007 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $20.29, for a total value of $6,919,032.03. Following the completion of the transaction, the director owned 395,705 shares of the company's stock, valued at $8,028,854.45. The trade was a 46.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

DHT Trading Down 0.4%

Shares of DHT stock opened at $19.74 on Monday. DHT Holdings, Inc. has a twelve month low of $10.83 and a twelve month high of $20.62. The stock's fifty day simple moving average is $18.30 and its 200 day simple moving average is $17.78. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $3.18 billion, a P/E ratio of 6.71 and a beta of -0.11.

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

DHT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, August 17th. This is a positive change from DHT's previous quarterly dividend of $0.64. This represents a $4.88 annualized dividend and a dividend yield of 24.7%. DHT's payout ratio is currently 165.99%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DHT. Weiss Ratings upgraded shares of DHT from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, August 7th. Wall Street Zen raised shares of DHT from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.33.

Hedge Funds Weigh In On DHT

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in DHT by 168.3% during the 1st quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company's stock valued at $21,674,000 after purchasing an additional 744,130 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of DHT in the fourth quarter worth approximately $2,720,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of DHT by 74.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company's stock valued at $78,849,000 after purchasing an additional 1,836,892 shares in the last quarter. WIT Partners Advisory Pte. Ltd. purchased a new position in shares of DHT during the first quarter valued at approximately $5,163,000. Finally, Strs Ohio purchased a new position in shares of DHT during the fourth quarter valued at approximately $774,000. 58.53% of the stock is owned by institutional investors and hedge funds.

About DHT

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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