American Century Companies Inc. Grows Stake in Nordic American Tankers Limited $NAT

American Century Companies Inc. grew its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 25.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,260,627 shares of the shipping company’s stock after buying an additional 1,057,232 shares during the period. American Century Companies Inc. owned 2.48% of Nordic American Tankers worth $16,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantbot Technologies LP lifted its stake in Nordic American Tankers by 511.8% in the third quarter. Quantbot Technologies LP now owns 115,312 shares of the shipping company’s stock worth $362,000 after acquiring an additional 96,464 shares during the period. CenterBook Partners LP boosted its holdings in Nordic American Tankers by 168.4% in the third quarter. CenterBook Partners LP now owns 1,761,198 shares of the shipping company’s stock valued at $5,530,000 after acquiring an additional 1,104,929 shares in the last quarter. GSA Capital Partners LLP increased its position in Nordic American Tankers by 24.4% during the 3rd quarter. GSA Capital Partners LLP now owns 283,715 shares of the shipping company’s stock valued at $891,000 after purchasing an additional 55,602 shares during the period. Caprock Group LLC purchased a new position in Nordic American Tankers during the 3rd quarter valued at $36,000. Finally, Rhumbline Advisers raised its holdings in Nordic American Tankers by 53.8% in the 3rd quarter. Rhumbline Advisers now owns 482,172 shares of the shipping company’s stock worth $1,514,000 after purchasing an additional 168,660 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Down 4.7%

Shares of Nordic American Tankers stock opened at $5.37 on Wednesday. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $6.34. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 76.65 and a beta of -0.50. The company has a 50-day moving average of $4.45 and a 200 day moving average of $3.79. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.24 and a quick ratio of 1.94.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Thursday, February 26th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $58.76 million for the quarter, compared to the consensus estimate of $69.43 million. Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 12.7%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.13. Nordic American Tankers’s payout ratio is presently 971.43%.

Analyst Ratings Changes

Several research firms have recently commented on NAT. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a research report on Friday, November 28th. Wall Street Zen raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.25.

Nordic American Tankers 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.