Nordic American Tankers Limited (NYSE:NAT) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Nordic American Tankers Limited (NYSE:NAT) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 692,602 shares of the shipping company’s stock after buying an additional 67,009 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of Nordic American Tankers worth $2,757,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NAT. Greylin Investment Management Inc raised its holdings in shares of Nordic American Tankers by 1.8% during the 2nd quarter. Greylin Investment Management Inc now owns 1,087,022 shares of the shipping company’s stock valued at $4,326,000 after purchasing an additional 18,990 shares in the last quarter. SG Americas Securities LLC increased its position in Nordic American Tankers by 260.2% during the second quarter. SG Americas Securities LLC now owns 43,343 shares of the shipping company’s stock worth $173,000 after buying an additional 31,310 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in Nordic American Tankers by 6.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock valued at $185,000 after buying an additional 3,003 shares in the last quarter. Tidal Investments LLC raised its holdings in Nordic American Tankers by 18.4% during the first quarter. Tidal Investments LLC now owns 96,905 shares of the shipping company’s stock valued at $380,000 after buying an additional 15,053 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in Nordic American Tankers during the first quarter valued at about $45,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock opened at $3.63 on Monday. Nordic American Tankers Limited has a 52 week low of $3.31 and a 52 week high of $4.83. The stock has a market capitalization of $757.94 million, a price-to-earnings ratio of 11.34 and a beta of -0.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.77. The firm has a fifty day moving average of $3.65 and a two-hundred day moving average of $3.88.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $66.10 million during the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.56%. During the same period in the prior year, the business earned $0.13 EPS. As a group, equities research analysts predict that Nordic American Tankers Limited will post 0.41 EPS for the current year.

Nordic American Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.22%. Nordic American Tankers’s payout ratio is 150.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 price objective on shares of Nordic American Tankers in a research note on Thursday. Evercore ISI decreased their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th. Finally, StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th.

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.