Strs Ohio Buys New Shares in Nordic American Tankers Limited (NYSE:NAT)

Strs Ohio bought a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 84,500 shares of the shipping company’s stock, valued at approximately $354,000.

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Nordic American Tankers by 88.5% during the 3rd quarter. Barclays PLC now owns 77,203 shares of the shipping company’s stock valued at $318,000 after buying an additional 36,245 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Nordic American Tankers by 3.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,047,454 shares of the shipping company’s stock worth $16,999,000 after purchasing an additional 152,166 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in Nordic American Tankers by 783.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 484,179 shares of the shipping company’s stock worth $1,995,000 after purchasing an additional 429,396 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Nordic American Tankers in the 3rd quarter worth $846,000. Finally, CoreCap Advisors LLC purchased a new stake in Nordic American Tankers in the 4th quarter worth $105,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. TheStreet cut shares of Nordic American Tankers from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $5.50 price target on shares of Nordic American Tankers in a research note on Thursday, February 29th. Finally, Evercore ISI decreased their price target on shares of Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating on the stock in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.33.

Nordic American Tankers Stock Performance

Nordic American Tankers stock opened at $3.97 on Monday. The company’s 50-day moving average price is $3.98 and its 200-day moving average price is $4.20. Nordic American Tankers Limited has a twelve month low of $3.26 and a twelve month high of $4.83. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.50. The company has a market cap of $828.92 million, a PE ratio of 8.45 and a beta of -0.10.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Friday, March 1st. The shipping company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). Nordic American Tankers had a return on equity of 18.12% and a net margin of 37.65%. The business had revenue of $59.25 million during the quarter, compared to the consensus estimate of $68.90 million. During the same quarter last year, the firm earned $0.17 earnings per share. On average, equities research analysts forecast that Nordic American Tankers Limited will post 0.6 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were issued a $0.12 dividend. The ex-dividend date was Tuesday, March 19th. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.09%. Nordic American Tankers’s payout ratio is 102.13%.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.