Dynamic Technology Lab Private Ltd Acquires New Holdings in DHT Holdings, Inc. (NYSE:DHT)

Dynamic Technology Lab Private Ltd purchased a new position in DHT Holdings, Inc. (NYSE:DHT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 77,432 shares of the shipping company’s stock, valued at approximately $760,000.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI raised its position in DHT by 150.0% in the fourth quarter. National Bank of Canada FI now owns 5,000 shares of the shipping company’s stock worth $50,000 after acquiring an additional 3,000 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of DHT in the third quarter worth $52,000. Allspring Global Investments Holdings LLC increased its stake in shares of DHT by 45.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,178 shares of the shipping company’s stock worth $95,000 after purchasing an additional 2,882 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of DHT in the fourth quarter worth $98,000. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of DHT in the 4th quarter worth $111,000. 58.53% of the stock is currently owned by institutional investors.

DHT Trading Down 2.6 %

Shares of DHT opened at $12.38 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.30 and a quick ratio of 2.94. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.79 and a beta of -0.34. The company has a 50-day moving average of $11.61 and a 200 day moving average of $10.93. DHT Holdings, Inc. has a 1-year low of $7.60 and a 1-year high of $12.80.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, May 14th. The shipping company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). DHT had a net margin of 29.58% and a return on equity of 16.34%. The business had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $106.87 million. During the same period last year, the business posted $0.23 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, research analysts expect that DHT Holdings, Inc. will post 1.49 EPS for the current year.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 24th will be given a $0.29 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 9.37%. This is an increase from DHT’s previous quarterly dividend of $0.22. DHT’s payout ratio is presently 83.81%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of DHT from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of DHT from a “hold” rating to a “buy” rating and raised their target price for the stock from $11.00 to $14.00 in a report on Thursday, March 21st. Truist Financial raised their target price on shares of DHT from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $12.00 target price on shares of DHT in a report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.33.

DHT 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.