Bank of Montreal Can Has $88,000 Stock Position in Nordic American Tankers Limited $NAT

Bank of Montreal Can increased its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 140.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,370 shares of the shipping company’s stock after buying an additional 19,500 shares during the quarter. Bank of Montreal Can’s holdings in Nordic American Tankers were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NAT. Russell Investments Group Ltd. raised its position in shares of Nordic American Tankers by 19.4% during the first quarter. Russell Investments Group Ltd. now owns 23,886 shares of the shipping company’s stock worth $59,000 after purchasing an additional 3,875 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Nordic American Tankers by 33.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company’s stock worth $42,000 after buying an additional 3,998 shares during the period. Cerity Partners LLC lifted its stake in Nordic American Tankers by 34.0% in the first quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company’s stock valued at $54,000 after buying an additional 5,605 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Nordic American Tankers by 8.9% in the first quarter. MetLife Investment Management LLC now owns 111,449 shares of the shipping company’s stock valued at $274,000 after buying an additional 9,155 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Nordic American Tankers by 48.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,436 shares of the shipping company’s stock valued at $101,000 after acquiring an additional 12,178 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NAT shares. Wall Street Zen cut Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordic American Tankers in a report on Wednesday, October 8th. 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, August 28th. Finally, Evercore ISI upped 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, October 28th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nordic American Tankers presently has a consensus rating of “Hold” and an average target price of $3.00.

Nordic American Tankers Trading Up 3.5%

Shares of Nordic American Tankers stock opened at $3.86 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.33 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $817.36 million, a price-to-earnings ratio of 55.14 and a beta of -0.36. The firm’s 50-day moving average price is $3.46 and its two-hundred day moving average price is $3.04. Nordic American Tankers Limited has a 12-month low of $2.13 and a 12-month high of $3.93.

Nordic American Tankers (NYSE:NAT) last released its earnings results 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 business had revenue of $40.15 million during the quarter, compared to the consensus estimate 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 forecast that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were given a dividend of $0.10 per share. 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. This represents a $0.40 annualized dividend and a dividend yield of 10.4%. Nordic American Tankers’s payout ratio is 571.43%.

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.