Ballentine Partners LLC Grows Stake in Nordic American Tankers Limited $NAT

Ballentine Partners LLC grew its holdings in Nordic American Tankers Limited (NYSE:NAT) by 227.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,695 shares of the shipping company’s stock after acquiring an additional 33,123 shares during the quarter. Ballentine Partners LLC’s holdings in Nordic American Tankers were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Red Door Wealth Management LLC purchased a new position in shares of Nordic American Tankers in the 1st quarter valued at approximately $39,000. Watts Gwilliam & Co. LLC purchased a new position in shares of Nordic American Tankers in the 1st quarter valued at approximately $49,000. PNC Financial Services Group Inc. grew its stake in shares of Nordic American Tankers by 312.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 16,644 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Nordic American Tankers by 34.0% in the 1st quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 5,605 shares during the last quarter. Finally, Pettinga Financial Advisors LLC grew its stake in shares of Nordic American Tankers by 42.0% in the 1st quarter. Pettinga Financial Advisors LLC now owns 23,650 shares of the shipping company’s stock valued at $58,000 after purchasing an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

Nordic American Tankers stock opened at $3.15 on Wednesday. The company has a market capitalization of $667.01 million, a price-to-earnings ratio of 45.00 and a beta of -0.22. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.04 and a current ratio of 2.33. Nordic American Tankers Limited has a fifty-two week low of $2.13 and a fifty-two week high of $3.83. The stock has a fifty day moving average of $3.03 and a two-hundred day moving average of $2.76.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Thursday, August 28th. The shipping company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The business had revenue of $40.15 million during the quarter, compared to analysts’ expectations of $53.35 million. Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. On average, analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, September 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 12.7%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, September 12th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 571.43%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen cut Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a report on Thursday, August 28th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.00.

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.