Rhumbline Advisers lessened its holdings in Nordic American Tankers Limited (NYSE:NAT – Free Report) by 36.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 306,047 shares of the shipping company’s stock after selling 177,410 shares during the period. Rhumbline Advisers’ holdings in Nordic American Tankers were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in Nordic American Tankers in the 4th quarter worth approximately $26,000. Summit Financial LLC purchased a new stake in Nordic American Tankers in the 4th quarter worth approximately $32,000. Avantax Advisory Services Inc. purchased a new stake in Nordic American Tankers in the 4th quarter worth approximately $33,000. AXQ Capital LP purchased a new stake in Nordic American Tankers in the 4th quarter worth approximately $43,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Nordic American Tankers in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 44.29% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on NAT shares. Jefferies Financial Group restated a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a research report on Thursday, May 29th. Wall Street Zen lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Friday, May 30th.
Get Our Latest Research Report on NAT
Nordic American Tankers Trading Down 3.3%
Shares of NYSE:NAT opened at $2.76 on Friday. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $4.23. The firm has a market capitalization of $583.37 million, a price-to-earnings ratio of 12.52 and a beta of -0.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.65 and a quick ratio of 1.29. The business’s 50 day moving average price is $2.65 and its 200-day moving average price is $2.61.
Nordic American Tankers Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.07 per share. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, June 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 10.16%. Nordic American Tankers’s dividend payout ratio (DPR) is 127.27%.
About Nordic American Tankers
(Free Report)
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.
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