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

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

DHT Stock Down 4.4%

DHT stock opened at $18.33 on Thursday. DHT Holdings, Inc. has a 1-year low of $10.83 and a 1-year high of $20.62. 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 stock has a market cap of $2.95 billion, a PE ratio of 6.23 and a beta of -0.11. The stock’s fifty day moving average is $18.34 and its two-hundred day moving average is $17.89.

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

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a $1.22 dividend. This is an increase from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 annualized dividend and a yield of 26.6%. The ex-dividend date was Monday, August 17th. DHT’s payout ratio is currently 165.99%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DHT. Arrowstreet Capital Limited Partnership increased its position in DHT by 74.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock worth $78,849,000 after buying an additional 1,836,892 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of DHT by 1.5% during the fourth quarter. Victory Capital Management Inc. now owns 3,008,679 shares of the shipping company’s stock valued at $36,736,000 after acquiring an additional 44,986 shares during the last quarter. Wasatch Advisors LP increased its position in DHT by 11.9% during the 3rd quarter. Wasatch Advisors LP now owns 2,329,182 shares of the shipping company’s stock worth $27,834,000 after purchasing an additional 248,620 shares in the last quarter. State Street Corp increased its position in DHT by 0.8% during the 4th quarter. State Street Corp now owns 2,269,460 shares of the shipping company’s stock worth $27,710,000 after purchasing an additional 17,221 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in DHT by 60.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,732,003 shares of the shipping company’s stock valued at $20,697,000 after purchasing an additional 654,299 shares during the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DHT. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings cut DHT from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

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.