Sei Investments Co. Acquires 103,374 Shares of Nordic American Tankers Limited $NAT

Sei Investments Co. lifted its stake in Nordic American Tankers Limited (NYSE:NAT) by 384.2% during the 1st quarter, HoldingsChannel reports. The fund owned 130,281 shares of the shipping company’s stock after buying an additional 103,374 shares during the period. Sei Investments Co.’s holdings in Nordic American Tankers were worth $763,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position 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 worth $71,430,000 after acquiring an additional 460,555 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nordic American Tankers by 7.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,124,150 shares of the shipping company’s stock valued at $16,090,000 after purchasing an additional 369,462 shares during the period. CenterBook Partners LP boosted its holdings in Nordic American Tankers by 110.1% in the 4th quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock valued at $12,729,000 after purchasing an additional 1,939,211 shares during the period. Millennium Management LLC grew its position in Nordic American Tankers by 108.3% in the 3rd quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock worth $7,628,000 after purchasing an additional 1,263,228 shares during the last quarter. Finally, UBS Group AG grew its position in Nordic American Tankers by 83.9% in the 3rd quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock worth $7,152,000 after purchasing an additional 1,039,353 shares during 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 several research reports. Wall Street Zen downgraded shares of Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Evercore cut shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price for the company. in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Stock Performance

NAT opened at $6.60 on Friday. The stock has a market cap of $1.40 billion, a PE ratio of 24.44 and a beta of -0.57. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. Nordic American Tankers Limited has a 1 year low of $2.81 and a 1 year high of $6.73. The stock’s 50 day simple moving average is $6.04 and its 200-day simple moving average is $5.57.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%.The firm had revenue of $77.51 million during the quarter, compared to analysts’ expectations of $81.86 million. Sell-side analysts forecast 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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date of this dividend was Wednesday, June 10th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.17. Nordic American Tankers’s payout ratio is 325.93%.

Nordic American Tankers 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.