Nordic American Tankers Limited (NYSE:NAT) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 67.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,638 shares of the shipping company’s stock after acquiring an additional 33,810 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Nordic American Tankers were worth $317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TrueMark Investments LLC bought a new position in Nordic American Tankers during the 2nd quarter valued at $4,373,000. American Century Companies Inc. boosted its stake in Nordic American Tankers by 40.5% during the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after buying an additional 1,009,096 shares in the last quarter. Millennium Management LLC boosted its stake in Nordic American Tankers by 122.8% during the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after buying an additional 711,973 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in Nordic American Tankers in the first quarter worth about $2,443,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after acquiring an additional 621,588 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NAT. Evercore ISI lowered their price objective 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. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $4.00 price objective on shares of Nordic American Tankers in a research report on Thursday, September 12th.

Nordic American Tankers Price Performance

NAT stock opened at $3.08 on Wednesday. Nordic American Tankers Limited has a one year low of $3.06 and a one year high of $4.78. The firm has a 50-day moving average of $3.59 and a two-hundred day moving average of $3.78. The firm has a market capitalization of $642.06 million, a PE ratio of 10.60 and a beta of -0.21. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The business had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, analysts forecast that Nordic American Tankers Limited will post 0.32 earnings per share for the current year.

Nordic American Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders 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 dividend yield of 15.61%. Nordic American Tankers’s dividend payout ratio is 165.52%.

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.