Rhumbline Advisers Lowers Position in Nordic American Tankers Limited (NYSE:NAT)

Rhumbline Advisers cut its holdings in Nordic American Tankers Limited (NYSE:NAT) by 36.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 306,047 shares of the shipping company’s stock after selling 177,410 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Nordic American Tankers worth $753,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. WealthTrust Axiom LLC raised its holdings in Nordic American Tankers by 0.7% in the fourth quarter. WealthTrust Axiom LLC now owns 652,683 shares of the shipping company’s stock worth $1,632,000 after purchasing an additional 4,665 shares in the last quarter. Xponance Inc. raised its holdings in Nordic American Tankers by 41.4% in the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company’s stock worth $46,000 after purchasing an additional 5,439 shares in the last quarter. Legal & General Group Plc raised its holdings in 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 worth $100,000 after purchasing an additional 6,712 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in 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 worth $113,000 after purchasing an additional 7,833 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Nordic American Tankers by 18.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 53,105 shares of the shipping company’s stock worth $135,000 after purchasing an additional 8,411 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Performance

NAT opened at $2.76 on Friday. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $4.23. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 0.49. The company has a market cap of $583.37 million, a P/E ratio of 12.52 and a beta of -0.20. The firm’s 50-day moving average price is $2.65 and its 200-day moving average price is $2.61.

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 issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.28 annualized dividend and a dividend yield of 10.16%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. Nordic American Tankers’s dividend payout ratio is 127.27%.

Wall Street Analyst Weigh In

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

Nordic American Tankers Profile

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.