Simcoe Capital LLC bought a new position in Nordic American Tankers Limited (NYSE:NAT – Free Report) in the 4th quarter, HoldingsChannel reports. The fund bought 1,023,857 shares of the shipping company’s stock, valued at approximately $3,522,000. Nordic American Tankers comprises approximately 3.3% of Simcoe Capital LLC’s portfolio, making the stock its 15th largest holding.
Several other hedge funds have also made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC acquired a new position in Nordic American Tankers during the 3rd quarter worth $32,000. BlueStem Wealth Partners LLC bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth $32,000. Torren Management LLC bought a new stake in shares of Nordic American Tankers in the 4th quarter worth $34,000. Caprock Group LLC bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth $36,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth $37,000. Institutional investors own 44.29% of the company’s stock.
Nordic American Tankers Price Performance
Shares of NYSE:NAT opened at $5.82 on Wednesday. The business has a 50 day moving average price of $5.69 and a 200 day moving average price of $4.53. Nordic American Tankers Limited has a twelve month low of $2.55 and a twelve month high of $6.34. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 83.21 and a beta of -0.54. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.87.
Nordic American Tankers Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were issued a $0.17 dividend. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.68 annualized dividend and a yield of 11.7%. Nordic American Tankers’s payout ratio is currently 971.43%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on NAT. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Evercore downgraded Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective 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. According to data from MarketBeat, Nordic American Tankers has a consensus rating of “Reduce” and a consensus price target of $4.00.
Read Our Latest Stock Analysis on Nordic American Tankers
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.
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