Nordic American Tankers Limited $NAT Shares Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. lifted its stake in Nordic American Tankers Limited (NYSE:NAT) by 168.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,232 shares of the shipping company’s stock after purchasing an additional 67,231 shares during the period. SBI Securities Co. Ltd. owned about 0.05% of Nordic American Tankers worth $847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Nordic American Tankers during the 2nd quarter worth $30,000. Fortitude Family Office LLC increased its stake in Nordic American Tankers by 332.6% in the third quarter. Fortitude Family Office LLC now owns 3,764 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 2,894 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Nordic American Tankers in the second quarter valued at approximately $32,000. Integrated Wealth Concepts LLC purchased a new position in Nordic American Tankers in the second quarter valued at approximately $32,000. Finally, GAMMA Investing LLC raised its holdings in Nordic American Tankers by 184.0% during the third quarter. GAMMA Investing LLC now owns 5,306 shares of the shipping company’s stock worth $42,000 after purchasing an additional 3,438 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NAT. B. Riley Financial upped their price objective on shares of Nordic American Tankers from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Wall Street Zen downgraded Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Finally, Weiss Ratings raised Nordic American Tankers from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nordic American Tankers presently has an average rating of “Hold” and an average price target of $6.00.

Nordic American Tankers Trading Up 4.3%

NYSE:NAT opened at $7.87 on Friday. The firm has a market cap of $1.67 billion, a P/E ratio of 13.33 and a beta of -0.56. The company has a current ratio of 3.27, a quick ratio of 3.05 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $7.60 and its 200-day simple moving average is $6.47. Nordic American Tankers Limited has a 12-month low of $3.33 and a 12-month high of $8.88.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Thursday, August 27th. The shipping company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Nordic American Tankers had a net margin of 47.04% and a return on equity of 20.58%. The company had revenue of $79.30 million during the quarter, compared to the consensus estimate of $84.18 million. Equities analysts anticipate that Nordic American Tankers Limited will post 0.60 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a $0.27 dividend. The ex-dividend date was Thursday, September 10th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.22. This represents a $1.08 annualized dividend and a yield of 13.7%. Nordic American Tankers’s dividend payout ratio (DPR) is currently 183.05%.

Nordic American Tankers Profile

Nordic American Tankers Limited (NYSE:NAT) is a shipping company focused on the international transportation of crude oil. The company owns and operates Suezmax tankers, a class of vessels designed to carry large volumes of crude oil while remaining within the size limits of the Suez Canal.

Nordic American Tankers’ vessels serve global crude-oil markets and transport cargoes between major producing and consuming regions. The company’s operations are influenced by international seaborne trade, vessel chartering conditions, and demand for crude-oil transportation.

Founded in 1995, Nordic American Tankers is headquartered in Hamilton, Bermuda, and has been listed on the New York Stock Exchange since that year.