Nordic American Tankers Limited $NAT Holdings Raised by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 53.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 482,172 shares of the shipping company’s stock after purchasing an additional 168,660 shares during the quarter. Rhumbline Advisers owned 0.23% of Nordic American Tankers worth $1,514,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Nordic American Tankers by 9.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,754,688 shares of the shipping company’s stock worth $12,505,000 after buying an additional 427,769 shares during the last quarter. American Century Companies Inc. raised its stake in Nordic American Tankers by 15.2% during the second quarter. American Century Companies Inc. now owns 4,203,395 shares of the shipping company’s stock worth $11,055,000 after acquiring an additional 554,368 shares during the period. Geode Capital Management LLC raised its stake in Nordic American Tankers by 0.6% during the second quarter. Geode Capital Management LLC now owns 2,568,766 shares of the shipping company’s stock worth $6,756,000 after acquiring an additional 16,535 shares during the period. Philip James Wealth Mangement LLC lifted its holdings in Nordic American Tankers by 1.1% in the third quarter. Philip James Wealth Mangement LLC now owns 1,317,887 shares of the shipping company’s stock worth $4,138,000 after acquiring an additional 14,015 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in Nordic American Tankers by 49.7% in the second quarter. Bridgeway Capital Management LLC now owns 1,268,265 shares of the shipping company’s stock valued at $3,336,000 after acquiring an additional 421,326 shares during the period. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 5.6%

Shares of NAT stock opened at $5.71 on Monday. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $5.78. The firm has a market capitalization of $1.21 billion, a PE ratio of 81.51 and a beta of -0.50. The stock has a fifty day moving average of $4.13 and a two-hundred day moving average of $3.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.64 and a current ratio of 1.95.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Thursday, February 26th. The shipping company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $58.76 million for the quarter, compared to analyst estimates of $69.43 million. Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.42%. As a group, research analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.17 per share. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Tuesday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is 742.86%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NAT shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nordic American Tankers in a research report on Monday, December 29th. Jefferies Financial Group restated a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research note on Friday, November 28th. Finally, Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.25.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.