Wealth Enhancement Advisory Services LLC Sells 16,281 Shares of Nordic American Tankers Limited (NYSE:NAT)

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 49.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,932 shares of the shipping company’s stock after selling 16,281 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Nordic American Tankers were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. WealthTrust Axiom LLC raised its position in Nordic American Tankers by 0.7% during the fourth quarter. WealthTrust Axiom LLC now owns 652,683 shares of the shipping company’s stock valued at $1,632,000 after acquiring an additional 4,665 shares in the last quarter. Rhumbline Advisers raised its position in shares of Nordic American Tankers by 1.1% in the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after purchasing an additional 5,439 shares during the period. Xponance Inc. raised its position in shares of Nordic American Tankers by 41.4% in the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 5,439 shares during the period. Legal & General Group Plc raised its position in shares of Nordic American Tankers by 20.1% in the fourth quarter. Legal & General Group Plc now owns 40,074 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 6,712 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Nordic American Tankers by 20.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 45,280 shares of the shipping company’s stock valued at $113,000 after purchasing an additional 7,833 shares during the period. Institutional investors own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NAT shares. Wall Street Zen lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research report on Thursday, May 29th.

Nordic American Tankers Trading Down 0.2%

Shares of Nordic American Tankers stock opened at $2.86 on Thursday. The company’s fifty day simple moving average is $2.63 and its 200-day simple moving average is $2.61. The company has a market cap of $604.55 million, a price-to-earnings ratio of 12.98 and a beta of -0.20. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 0.49. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $4.23.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.07 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.28 annualized dividend and a dividend yield of 9.81%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 127.27%.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.