Strs Ohio Sells 44,000 Shares of DHT Holdings, Inc. $DHT

Strs Ohio decreased its stake in DHT Holdings, Inc. (NYSE:DHT) by 69.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,400 shares of the shipping company’s stock after selling 44,000 shares during the period. Strs Ohio’s holdings in DHT were worth $354,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 1,596 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in DHT by 568.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 3,022 shares during the period. Sound Income Strategies LLC acquired a new stake in DHT in the 4th quarter valued at $58,000. Leonteq Securities AG bought a new stake in DHT during the 4th quarter valued at $59,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of DHT in the 3rd quarter worth about $60,000. 58.53% of the stock is owned by institutional investors and hedge funds.

DHT Price Performance

NYSE:DHT traded up $0.82 during trading hours on Friday, hitting $17.75. 2,328,385 shares of the company’s stock traded hands, compared to its average volume of 3,960,137. The firm has a market cap of $2.86 billion, a P/E ratio of 8.62 and a beta of -0.11. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $17.67 and its two-hundred day simple moving average is $16.59. DHT Holdings, Inc. has a 52 week low of $10.61 and a 52 week high of $20.55.

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

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were given a dividend of $0.64 per share. The ex-dividend date was Thursday, May 21st. This is a positive change from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 dividend on an annualized basis and a yield of 14.4%. DHT’s dividend payout ratio (DPR) is 124.27%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DHT. Evercore lowered DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price target for the company. in a research report on Wednesday, April 22nd. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Finally, BTIG Research upped their price objective on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

DHT 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.