Nordic American Tankers Limited $NAT Stock Position Increased by Rhumbline Advisers

Rhumbline Advisers increased its position in Nordic American Tankers Limited (NYSE:NAT) by 53.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 482,172 shares of the shipping company’s stock after buying an additional 168,660 shares during the quarter. Rhumbline Advisers’ holdings in Nordic American Tankers were worth $1,514,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Silver Oak Securities Incorporated bought a new position in shares of Nordic American Tankers in the third quarter valued at $1,362,000. American Century Companies Inc. boosted its stake in shares of Nordic American Tankers by 15.2% during the 2nd 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 in the last quarter. Bank of Montreal Can grew its holdings in shares of Nordic American Tankers by 140.6% in the 2nd quarter. Bank of Montreal Can now owns 33,370 shares of the shipping company’s stock worth $88,000 after acquiring an additional 19,500 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Nordic American Tankers during the second quarter worth $75,000. Finally, MQS Management LLC purchased a new stake in shares of Nordic American Tankers during the third quarter valued at $725,000. Institutional investors own 44.29% of the company’s stock.

Analyst Ratings Changes

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

Nordic American Tankers Stock Performance

NAT stock opened at $5.71 on Monday. The firm has a 50 day simple moving average of $4.13 and a 200 day simple moving average of $3.66. Nordic American Tankers Limited has a 52 week low of $2.13 and a 52 week high of $5.78. The stock has a market cap of $1.21 billion, a P/E ratio of 81.51 and a beta of -0.50. 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 released its earnings results on Thursday, February 26th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Nordic American Tankers had a return on equity of 2.42% and a net margin of 6.39%.The company had revenue of $58.76 million during the quarter, compared to analysts’ expectations of $69.43 million. Research 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders 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. 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 11.9%. Nordic American Tankers’s dividend payout ratio (DPR) is 742.86%.

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.