BW Group's stake in tanker owner DHT Holdings has become stronger.
According to US Securities and Exchange Commission filings, Singaporean BW now owns 36.1% of DHT after making four rounds of share purchases this month, including a 1.22 million share swoop for a weighted average of $4.24.
BW now owns 51.2 million shares, up from the 49.1 million reported last May.
DHT shares closed up two cents, or just under 0.5%, at $4.27.
BW is by far DHT's largest shareholder. Investors with the next biggest positions — Wellington Management Co and Dimensional Fund Advisors — own 9.4 and 9.2 million shares respectively.
The two firms have diverging opinions on DHT's 2019 prospects. Dimensional upped its stake alongside buys into Ardmore Shipping and International Seaways as disclosed earlier this month, while Wellington trimmed its position after investing heavily in 2018.
The company's fourth-quarter results saw it post a $12m profit, in line with analyst expectations and its first profitable quarter in a year.
In January, DHT relocated two if its top executives to Singapore from Oslo.
