Insider Selling: DHT (NYSE:DHT) Director Sells 30,000 Shares

DHT Holdings, Inc. (NYSE:DHT) Director Erik Lind sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $22.46, for a total value of $673,800.00. Following the completion of the transaction, the director owned 132,294 shares in the company, valued at approximately $2,971,323.24. This trade represents a 18.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

DHT Stock Performance

NYSE DHT opened at $23.06 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. DHT Holdings, Inc. has a 1-year low of $10.83 and a 1-year high of $23.46. The firm has a market capitalization of $3.71 billion, a P/E ratio of 7.84 and a beta of -0.09. The business’s 50-day simple moving average is $19.22 and its 200-day simple moving average is $18.34.

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

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a $1.22 dividend. 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%. This is a boost from DHT’s previous quarterly dividend of $0.64. DHT’s payout ratio is 165.99%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Institutional Trading of DHT

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of DHT during the 2nd quarter valued at approximately $1,437,000. Bank of America Corp DE raised its holdings in DHT by 168.3% in the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock valued at $21,674,000 after acquiring an additional 744,130 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in DHT by 74.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock valued at $78,849,000 after acquiring an additional 1,836,892 shares during the last quarter. WIT Partners Advisory Pte. Ltd. acquired a new position in DHT during the 1st quarter worth $5,163,000. Finally, Navellier & Associates Inc. acquired a new position in DHT during the 2nd quarter worth $3,558,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Company Profile

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.