Granite Bay Wealth Management LLC Takes Position in DHT Holdings, Inc. (NYSE:DHT)

Granite Bay Wealth Management LLC purchased a new position in DHT Holdings, Inc. (NYSE:DHT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,202 shares of the shipping company’s stock, valued at approximately $155,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Boston Partners lifted its stake in shares of DHT by 74.6% in the 1st quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock valued at $1,880,000 after purchasing an additional 69,838 shares during the period. EMC Capital Management purchased a new position in DHT during the 1st quarter valued at about $394,000. Tidal Investments LLC boosted its stake in DHT by 18.4% during the first quarter. Tidal Investments LLC now owns 75,490 shares of the shipping company’s stock worth $868,000 after acquiring an additional 11,728 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in DHT by 6.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 410,892 shares of the shipping company’s stock worth $4,725,000 after purchasing an additional 23,852 shares during the period. Finally, BTG Pactual Global Asset Management Ltd purchased a new stake in shares of DHT in the 1st quarter worth approximately $383,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

DHT Stock Up 1.9 %

Shares of DHT traded up $0.21 on Monday, hitting $11.13. 1,970,201 shares of the stock traded hands, compared to its average volume of 1,842,637. The company has a market capitalization of $1.80 billion, a PE ratio of 10.40 and a beta of -0.35. DHT Holdings, Inc. has a one year low of $8.60 and a one year high of $12.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.69 and a current ratio of 3.30. The business has a 50 day simple moving average of $11.40 and a 200 day simple moving average of $11.41.

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). The business had revenue of $106.30 million during the quarter, compared to the consensus estimate of $106.87 million. DHT had a return on equity of 16.34% and a net margin of 29.58%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. As a group, equities analysts forecast that DHT Holdings, Inc. will post 1.22 earnings per share for the current fiscal year.

DHT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 24th were paid a dividend of $0.29 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.16 annualized dividend and a yield of 10.42%. This is a boost from DHT’s previous quarterly dividend of $0.22. DHT’s dividend payout ratio is currently 110.48%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised their price target on DHT from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

DHT Company 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.