TrueMark Investments LLC Reduces Stock Position in DHT Holdings, Inc. (NYSE:DHT)

TrueMark Investments LLC reduced its stake in DHT Holdings, Inc. (NYSE:DHT) by 52.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 187,819 shares of the shipping company’s stock after selling 204,816 shares during the period. TrueMark Investments LLC’s holdings in DHT were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Stifel Financial Corp boosted its stake in DHT by 7.7% in the 3rd quarter. Stifel Financial Corp now owns 21,272 shares of the shipping company’s stock worth $235,000 after purchasing an additional 1,514 shares during the period. Spire Wealth Management purchased a new stake in shares of DHT in the fourth quarter worth about $36,000. Franklin Resources Inc. boosted its position in shares of DHT by 8.4% in the third quarter. Franklin Resources Inc. now owns 51,870 shares of the shipping company’s stock valued at $588,000 after acquiring an additional 4,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in DHT by 41.3% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,666 shares of the shipping company’s stock valued at $136,000 after acquiring an additional 4,290 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in DHT by 1.6% during the 4th quarter. Rhumbline Advisers now owns 275,473 shares of the shipping company’s stock worth $2,559,000 after acquiring an additional 4,454 shares during the period. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DHT has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of DHT from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Kepler Capital Markets cut DHT from a “buy” rating to a “hold” rating and set a $9.70 target price for the company. in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.68.

DHT Stock Performance

DHT stock opened at $10.90 on Wednesday. DHT Holdings, Inc. has a fifty-two week low of $8.67 and a fifty-two week high of $12.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.84. The stock has a market cap of $1.76 billion, a P/E ratio of 9.73 and a beta of -0.38. The firm’s fifty day moving average price is $10.88 and its 200-day moving average price is $10.53.

DHT (NYSE:DHT) last released its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. DHT had a return on equity of 17.42% and a net margin of 31.72%. On average, equities research analysts expect that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 6.24%. The ex-dividend date was Tuesday, February 18th. DHT’s dividend payout ratio is currently 60.71%.

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.