Sei Investments Co. Has $763,000 Stock Position in Nordic American Tankers Limited $NAT

Sei Investments Co. grew its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 384.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,281 shares of the shipping company’s stock after purchasing an additional 103,374 shares during the quarter. Sei Investments Co. owned about 0.06% of Nordic American Tankers worth $763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Nordic American Tankers by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company’s stock valued at $71,430,000 after buying an additional 460,555 shares in the last quarter. Simcoe Capital LLC acquired a new stake in shares of Nordic American Tankers in the fourth quarter worth about $3,522,000. CenterBook Partners LP boosted its stake in shares of Nordic American Tankers by 110.1% during the 4th quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock worth $12,729,000 after acquiring an additional 1,939,211 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Nordic American Tankers during the 1st quarter worth about $56,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Nordic American Tankers by 135.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 21,693 shares of the shipping company’s stock worth $75,000 after acquiring an additional 12,473 shares in the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

Analyst Ratings Changes

NAT has been the topic of a number of recent analyst reports. Evercore downgraded Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a research note on Tuesday, April 21st. Wall Street Zen cut Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $4.00.

Nordic American Tankers Stock Performance

NYSE:NAT opened at $6.60 on Friday. The firm has a market capitalization of $1.40 billion, a PE ratio of 24.44 and a beta of -0.57. Nordic American Tankers Limited has a 1 year low of $2.81 and a 1 year high of $6.73. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The firm’s fifty day simple moving average is $6.04 and its 200 day simple moving average is $5.57.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The firm had revenue of $77.51 million during the quarter, compared to analyst estimates of $81.86 million. On average, sell-side analysts anticipate that Nordic American Tankers Limited will post 0.58 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were paid a $0.22 dividend. The ex-dividend date was Wednesday, June 10th. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.3%. Nordic American Tankers’s dividend payout ratio is presently 325.93%.

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.