Public Sector Pension Investment Board acquired a new stake in shares of Nordic American Tanker Ltd (NYSE:NAT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 739,000 shares of the shipping company’s stock, valued at approximately $3,636,000. Public Sector Pension Investment Board owned approximately 0.52% of Nordic American Tanker as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of NAT. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Nordic American Tanker in the fourth quarter worth about $50,000. Meeder Asset Management Inc. grew its stake in shares of Nordic American Tanker by 793.0% in the 4th quarter. Meeder Asset Management Inc. now owns 13,601 shares of the shipping company’s stock valued at $68,000 after buying an additional 12,078 shares in the last quarter. Man Group plc grew its stake in shares of Nordic American Tanker by 54.7% in the 3rd quarter. Man Group plc now owns 16,400 shares of the shipping company’s stock valued at $35,000 after buying an additional 5,800 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Nordic American Tanker by 19.0% in the 4th quarter. ProShare Advisors LLC now owns 18,889 shares of the shipping company’s stock valued at $93,000 after buying an additional 3,017 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Nordic American Tanker in the 4th quarter valued at approximately $161,000. Institutional investors and hedge funds own 35.74% of the company’s stock.
A number of research analysts have recently commented on the company. ValuEngine lowered Nordic American Tanker from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 28th. Zacks Investment Research cut Nordic American Tanker from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, B. Riley restated a “buy” rating and set a $4.75 price objective on shares of Nordic American Tanker in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.75.
Shares of NAT traded up $0.32 during trading hours on Thursday, hitting $3.52. 3,778,057 shares of the stock traded hands, compared to its average volume of 3,462,767. The company has a current ratio of 2.19, a quick ratio of 1.81 and a debt-to-equity ratio of 0.63. Nordic American Tanker Ltd has a 1-year low of $1.66 and a 1-year high of $5.28. The firm has a market capitalization of $472.96 million, a PE ratio of -44.00 and a beta of 0.87. The business has a fifty day moving average of $3.07 and a 200-day moving average of $3.52.
Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.08). The company had revenue of $58.82 million during the quarter, compared to the consensus estimate of $72.97 million. Nordic American Tanker had a negative net margin of 5.90% and a negative return on equity of 1.76%. As a group, equities research analysts expect that Nordic American Tanker Ltd will post 0.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Tuesday, May 26th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 15.91%. This is a positive change from Nordic American Tanker’s previous quarterly dividend of $0.07. Nordic American Tanker’s payout ratio is currently -400.00%.
Nordic American Tanker Company Profile
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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