Kingswood Wealth Advisors LLC Buys 33,243 Shares of Nordic American Tankers Limited (NYSE:NAT)

Kingswood Wealth Advisors LLC boosted its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 321.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,593 shares of the shipping company’s stock after acquiring an additional 33,243 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Nordic American Tankers were worth $171,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake in shares of Nordic American Tankers by 22.9% in the 4th quarter. Quadrant Capital Group LLC now owns 16,057 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 2,990 shares during the last quarter. Balboa Wealth Partners acquired a new stake in shares of Nordic American Tankers during the 4th quarter valued at $75,000. Fisher Asset Management LLC acquired a new stake in shares of Nordic American Tankers during the 4th quarter valued at $86,000. CoreCap Advisors LLC acquired a new stake in shares of Nordic American Tankers during the 4th quarter valued at $105,000. Finally, Diversified Trust Co acquired a new stake in shares of Nordic American Tankers during the 4th quarter valued at $106,000. Institutional investors own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Jefferies Financial Group cut their target price on Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Nordic American Tankers presently has an average rating of “Moderate Buy” and an average target price of $5.17.

Nordic American Tankers Stock Down 0.7 %

Shares of NAT opened at $3.98 on Friday. The company has a market capitalization of $831.01 million, a PE ratio of 12.44 and a beta of -0.12. Nordic American Tankers Limited has a 12 month low of $3.49 and a 12 month high of $4.83. The stock’s 50-day moving average price is $4.06 and its two-hundred day moving average price is $4.12. The company has a current ratio of 0.77, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Wednesday, May 29th. The shipping company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.04). The company had revenue of $60.57 million for the quarter, compared to analyst estimates of $66.19 million. Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. On average, analysts anticipate that Nordic American Tankers Limited will post 0.47 EPS for the current year.

Nordic American Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.06%. The ex-dividend date is Friday, June 28th. Nordic American Tankers’s dividend payout ratio is 150.00%.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.