Victory Capital Management Inc. Trims Stake in Nordic American Tankers Limited (NYSE:NAT)

Victory Capital Management Inc. lessened its holdings in Nordic American Tankers Limited (NYSE:NAT) by 53.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 253,371 shares of the shipping company’s stock after selling 291,648 shares during the period. Victory Capital Management Inc. owned 0.12% of Nordic American Tankers worth $623,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NAT. Summit Financial LLC bought a new position in shares of Nordic American Tankers in the 4th quarter worth $32,000. Red Door Wealth Management LLC purchased a new position in Nordic American Tankers in the first quarter worth $39,000. Dynamic Technology Lab Private Ltd bought a new position in Nordic American Tankers in the fourth quarter valued at $43,000. Two Sigma Securities LLC bought a new position in Nordic American Tankers in the fourth quarter valued at $49,000. Finally, Russell Investments Group Ltd. raised its position in Nordic American Tankers by 141.4% during the fourth quarter. Russell Investments Group Ltd. now owns 20,011 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 11,722 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a report on Thursday, May 29th. Wall Street Zen downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th.

Nordic American Tankers Price Performance

NAT stock opened at $2.76 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.34 and a current ratio of 1.54. Nordic American Tankers Limited has a 52 week low of $2.13 and a 52 week high of $3.83. The firm’s fifty day moving average is $2.73 and its 200 day moving average is $2.63. The firm has a market cap of $584.43 million, a P/E ratio of 16.24 and a beta of -0.23.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 10.1%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, June 12th. Nordic American Tankers’s payout ratio is 164.71%.

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 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.