Nordic American Tankers Limited $NAT Stock Purchased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. boosted its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 168.1% during the third quarter, Holdings Channel reports. The firm owned 107,232 shares of the shipping company’s stock after buying an additional 67,231 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Nordic American Tankers were worth $847,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Nordic American Tankers in the second quarter valued at $30,000. Fortitude Family Office LLC boosted its position in shares of Nordic American Tankers by 332.6% in the 3rd quarter. Fortitude Family Office LLC now owns 3,764 shares of the shipping company’s stock worth $30,000 after buying an additional 2,894 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Nordic American Tankers in the 2nd quarter worth about $32,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Nordic American Tankers in the 2nd quarter worth about $32,000. Finally, GAMMA Investing LLC grew its stake in Nordic American Tankers by 184.0% in the 3rd quarter. GAMMA Investing LLC now owns 5,306 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 3,438 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

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

Nordic American Tankers Trading Up 4.3%

Shares of NAT stock opened at $7.87 on Friday. The company has a market capitalization of $1.67 billion, a price-to-earnings 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 firm has a 50-day moving average price of $7.60 and a 200 day moving average price of $6.47. Nordic American Tankers Limited has a twelve month low of $3.33 and a twelve month high of $8.88.

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

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 13.7%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, September 10th. Nordic American Tankers’s dividend payout ratio (DPR) is 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.