683 Capital Management LLC Cuts Stake in DHT Holdings, Inc. $DHT

683 Capital Management LLC lowered its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 25.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the shipping company’s stock after selling 50,000 shares during the quarter. 683 Capital Management LLC owned approximately 0.09% of DHT worth $1,575,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in shares of DHT by 33.2% during the fourth quarter. Ameriprise Financial Inc. now owns 438,930 shares of the shipping company’s stock worth $4,078,000 after purchasing an additional 109,376 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in DHT during the 1st quarter valued at approximately $112,000. GAMMA Investing LLC grew its holdings in DHT by 1,805.5% during the 1st quarter. GAMMA Investing LLC now owns 25,095 shares of the shipping company’s stock valued at $263,000 after buying an additional 23,778 shares in the last quarter. Cerity Partners LLC purchased a new position in DHT during the 1st quarter valued at approximately $465,000. Finally, Millennium Management LLC grew its holdings in DHT by 129.6% during the 4th quarter. Millennium Management LLC now owns 69,507 shares of the shipping company’s stock valued at $646,000 after buying an additional 39,231 shares in the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Price Performance

NYSE:DHT opened at $11.73 on Tuesday. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 9.94 and a beta of 0.03. DHT Holdings, Inc. has a 1 year low of $8.67 and a 1 year high of $12.32. The business has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $11.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.33 and a quick ratio of 1.96.

DHT (NYSE:DHT) last posted its quarterly earnings data on Wednesday, August 6th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $92.80 million during the quarter, compared to analyst estimates of $95.41 million. DHT had a return on equity of 16.36% and a net margin of 36.58%.The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. Equities analysts forecast that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.2%. This is an increase from DHT’s previous quarterly dividend of $0.17. DHT’s dividend payout ratio is 81.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $15.00 price target on shares of DHT in a report on Thursday, August 7th. Zacks Research raised DHT to a “hold” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.94.

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.