Nisa Investment Advisors LLC Boosts Stock Position in Nordic American Tankers Limited (NYSE:NAT)

Nisa Investment Advisors LLC lifted its stake in Nordic American Tankers Limited (NYSE:NAT) by 216.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,500 shares of the shipping company’s stock after buying an additional 70,105 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Nordic American Tankers were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. WealthTrust Axiom LLC increased its holdings in shares of Nordic American Tankers by 0.7% in the fourth quarter. WealthTrust Axiom LLC now owns 652,683 shares of the shipping company’s stock valued at $1,632,000 after purchasing an additional 4,665 shares during the last quarter. Xponance Inc. boosted 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 valued at $46,000 after purchasing an additional 5,439 shares during the period. Legal & General Group Plc boosted 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 valued at $100,000 after purchasing an additional 6,712 shares during the period. Mercer Global Advisors Inc. ADV raised its stake 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 valued at $113,000 after buying an additional 7,833 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Nordic American Tankers by 49.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,258 shares of the shipping company’s stock valued at $62,000 after buying an additional 8,326 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 1.7%

Nordic American Tankers stock opened at $2.74 on Friday. The firm’s 50 day moving average price is $2.71 and its two-hundred day moving average price is $2.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.29 and a current ratio of 1.65. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $3.91. The firm has a market cap of $579.14 million, a price-to-earnings ratio of 12.43 and a beta of -0.19.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.07 per share. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, June 12th. This represents a $0.28 dividend on an annualized basis and a yield of 10.24%. Nordic American Tankers’s payout ratio is currently 127.27%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research note on Thursday, May 29th.

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.