Millennium Management LLC Raises Stock Holdings in DHT Holdings, Inc. (NYSE:DHT)

Millennium Management LLC grew its stake in shares of DHT Holdings, Inc. (NYSE:DHT) by 2,728.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 321,683 shares of the shipping company’s stock after acquiring an additional 310,311 shares during the quarter. Millennium Management LLC owned about 0.20% of DHT worth $3,722,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DHT. Acadian Asset Management LLC raised its stake in DHT by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after buying an additional 1,032,832 shares during the last quarter. American Century Companies Inc. increased its position in DHT by 43.8% during the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after acquiring an additional 873,356 shares during the last quarter. LSV Asset Management lifted its holdings in DHT by 28.8% in the second quarter. LSV Asset Management now owns 1,534,614 shares of the shipping company’s stock valued at $17,755,000 after acquiring an additional 343,100 shares during the period. M&G Plc bought a new stake in shares of DHT during the 1st quarter valued at about $16,417,000. Finally, Vanguard Group Inc. grew its stake in shares of DHT by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock valued at $11,478,000 after purchasing an additional 132,039 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com cut DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus increased their target price on shares of DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.67.

DHT Stock Performance

Shares of NYSE:DHT opened at $11.72 on Monday. The firm has a fifty day simple moving average of $11.03 and a two-hundred day simple moving average of $11.41. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.89 billion, a P/E ratio of 11.16 and a beta of -0.36. DHT Holdings, Inc. has a 52 week low of $9.28 and a 52 week high of $12.80.

DHT (NYSE:DHT) last announced its earnings results on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). DHT had a return on equity of 15.19% and a net margin of 27.45%. The company had revenue of $103.70 million during the quarter, compared to analysts’ expectations of $102.75 million. During the same quarter last year, the firm posted $0.35 EPS. DHT’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, analysts expect that DHT Holdings, Inc. will post 1.14 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 9.22%. DHT’s payout ratio is 102.86%.

About DHT

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.