The Manufacturers Life Insurance Company Purchases 1,172 Shares of DHT Holdings, Inc. (NYSE:DHT)

The Manufacturers Life Insurance Company increased its holdings in DHT Holdings, Inc. (NYSE:DHT) by 2.5% during the second quarter, Holdings Channel.com reports. The firm owned 48,435 shares of the shipping company’s stock after acquiring an additional 1,172 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in DHT were worth $560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in DHT in the 1st quarter worth approximately $51,000. Summit Securities Group LLC purchased a new stake in DHT in the second quarter worth approximately $78,000. Point72 Hong Kong Ltd purchased a new stake in DHT during the second quarter valued at $80,000. Blue Trust Inc. lifted its stake in shares of DHT by 41,626.3% in the 2nd quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock worth $91,000 after purchasing an additional 7,909 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of DHT during the 2nd quarter valued at $124,000. Institutional investors own 58.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DHT. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com downgraded shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. BTIG Research assumed coverage on DHT in a research report on Tuesday. They set a “buy” rating and a $16.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of DHT from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.00.

DHT Stock Down 2.7 %

Shares of DHT stock opened at $11.03 on Wednesday. DHT Holdings, Inc. has a 52-week low of $9.28 and a 52-week high of $12.80. The firm’s 50 day moving average price is $11.04 and its 200-day moving average price is $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 company has a market cap of $1.78 billion, a P/E ratio of 10.50 and a beta of -0.36.

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

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were paid a $0.27 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.79%. DHT’s payout ratio is 102.86%.

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.