Ethic Inc. Sells 48,658 Shares of Nordic American Tankers Limited $NAT

Ethic Inc. lowered its stake in Nordic American Tankers Limited (NYSE:NAT) by 44.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,421 shares of the shipping company’s stock after selling 48,658 shares during the quarter. Ethic Inc.’s holdings in Nordic American Tankers were worth $166,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its stake in Nordic American Tankers by 33.7% during the second quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company’s stock worth $42,000 after acquiring an additional 3,998 shares in the last quarter. MGO One Seven LLC bought a new stake in Nordic American Tankers in the second quarter valued at $186,000. CWM LLC raised its holdings in shares of Nordic American Tankers by 406.9% during the second quarter. CWM LLC now owns 41,908 shares of the shipping company’s stock valued at $110,000 after purchasing an additional 33,641 shares during the period. Philip James Wealth Mangement LLC boosted its position in shares of Nordic American Tankers by 2.9% during the 2nd quarter. Philip James Wealth Mangement LLC now owns 1,303,872 shares of the shipping company’s stock worth $3,429,000 after purchasing an additional 36,494 shares in the last quarter. Finally, Significant Wealth Partners LLC grew its stake in shares of Nordic American Tankers by 64.6% in the 2nd quarter. Significant Wealth Partners LLC now owns 40,857 shares of the shipping company’s stock valued at $107,000 after buying an additional 16,028 shares during the period. Institutional investors and hedge funds own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordic American Tankers in a research report on Wednesday, October 8th. Finally, Evercore ISI increased their target price on Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a report on Tuesday. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nordic American Tankers currently has an average rating of “Hold” and a consensus price target of $3.00.

Nordic American Tankers Price Performance

Shares of NYSE:NAT opened at $3.70 on Friday. The company has a current ratio of 2.33, a quick ratio of 2.04 and a debt-to-equity ratio of 0.84. The stock has a market cap of $782.42 million, a PE ratio of 52.79 and a beta of -0.31. The stock’s fifty day simple moving average is $3.30 and its two-hundred day simple moving average is $2.91. Nordic American Tankers Limited has a 1-year low of $2.13 and a 1-year high of $3.78.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%.The firm had revenue of $40.15 million during the quarter, compared to the consensus estimate of $53.35 million. As a group, analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.40 annualized dividend and a dividend yield of 10.8%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.07. Nordic American Tankers’s payout ratio is 571.43%.

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.