Voya Investment Management LLC Decreases Stock Holdings in Nordic American Tankers Limited $NAT

Voya Investment Management LLC trimmed its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 9.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,869 shares of the shipping company’s stock after selling 6,200 shares during the period. Voya Investment Management LLC’s holdings in Nordic American Tankers were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NAT. Wealth Enhancement Advisory Services LLC raised its holdings in Nordic American Tankers by 49.2% during the 1st 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 during the period. CenterBook Partners LP raised its holdings in Nordic American Tankers by 88.0% during the 1st quarter. CenterBook Partners LP now owns 3,135,619 shares of the shipping company’s stock valued at $7,714,000 after buying an additional 1,467,916 shares during the period. Nuveen LLC purchased a new stake in Nordic American Tankers during the 1st quarter valued at $3,150,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nordic American Tankers by 61.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,326,919 shares of the shipping company’s stock valued at $10,644,000 after buying an additional 1,648,496 shares during the period. Finally, Jump Financial LLC raised its holdings in Nordic American Tankers by 44.7% during the 1st quarter. Jump Financial LLC now owns 264,617 shares of the shipping company’s stock valued at $651,000 after buying an additional 81,724 shares during the period. 44.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NAT. Wall Street Zen lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Jefferies Financial Group restated a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock opened at $3.15 on Wednesday. The firm has a market cap of $667.01 million, a P/E ratio of 45.00 and a beta of -0.22. The company has a current ratio of 2.33, a quick ratio of 2.04 and a debt-to-equity ratio of 0.84. Nordic American Tankers Limited has a 12 month low of $2.13 and a 12 month high of $3.83. The stock’s fifty day moving average price is $3.03 and its 200-day moving average price is $2.76.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Thursday, August 28th. The shipping company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm had revenue of $40.15 million for 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, equities research analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, September 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 12.7%. This is a positive change 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 payout ratio is presently 571.43%.

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.