Sigma Planning Corp Buys Shares of 29,307 Nordic American Tankers Limited (NYSE:NAT)

Sigma Planning Corp purchased a new position in Nordic American Tankers Limited (NYSE:NAT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 29,307 shares of the shipping company’s stock, valued at approximately $108,000.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Nordic American Tankers during the 2nd quarter worth $25,000. B. Riley Wealth Advisors Inc. purchased a new stake in Nordic American Tankers during the first quarter valued at about $45,000. SG Americas Securities LLC bought a new stake in Nordic American Tankers during the first quarter worth about $47,000. Bluefin Capital Management LLC bought a new stake in Nordic American Tankers during the second quarter worth about $47,000. Finally, Caprock Group LLC purchased a new position in shares of Nordic American Tankers in the 2nd quarter worth about $55,000. Institutional investors own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NAT. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday. Evercore ISI decreased their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th. Finally, Jefferies Financial Group lowered their price objective on shares of Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating for the company in a report on Thursday.

Nordic American Tankers Stock Down 2.6 %

NAT opened at $2.98 on Monday. Nordic American Tankers Limited has a 12 month low of $2.95 and a 12 month high of $4.64. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $3.49 and its 200-day moving average price is $3.74. The company has a market cap of $622.22 million, a P/E ratio of 10.28 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period in the previous year, the firm earned $0.13 EPS. On average, equities analysts expect that Nordic American Tankers Limited will post 0.28 EPS for the current year.

Nordic American Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a yield of 16.11%. Nordic American Tankers’s dividend payout ratio is currently 165.52%.

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.