Nordic American Tankers Limited $NAT Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Nordic American Tankers Limited (NYSE:NAT) by 15.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,081 shares of the shipping company’s stock after selling 15,419 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Nordic American Tankers were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Nordic American Tankers by 61.5% in 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 in the last quarter. CenterBook Partners LP lifted its stake in Nordic American Tankers by 88.0% in 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 in the last quarter. Nuveen LLC purchased a new position in Nordic American Tankers in the 1st quarter valued at about $3,150,000. AQR Capital Management LLC lifted its stake in Nordic American Tankers by 269.8% in the 1st quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock valued at $319,000 after buying an additional 94,514 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Nordic American Tankers by 44.7% in 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 in the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Nordic American Tankers Trading Down 1.5%

Shares of NAT opened at $3.63 on Tuesday. 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 $3.78. The firm has a 50-day moving average price of $3.31 and a 200 day moving average price of $2.93. The firm has a market capitalization of $767.60 million, a P/E ratio of 51.79 and a beta of -0.31.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The firm 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%. Sell-side analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, September 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.0%. 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.