State Street Corp Buys 4,560 Shares of Nordic American Tankers Limited (NYSE:NAT)

State Street Corp grew its holdings in Nordic American Tankers Limited (NYSE:NAT) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,102,839 shares of the shipping company’s stock after purchasing an additional 4,560 shares during the quarter. State Street Corp owned about 1.96% of Nordic American Tankers worth $15,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Penn Mutual Asset Management raised its stake in shares of Nordic American Tankers by 25.2% during the 3rd quarter. Penn Mutual Asset Management now owns 134,000 shares of the shipping company’s stock valued at $492,000 after purchasing an additional 27,000 shares during the period. Quantbot Technologies LP grew its stake in shares of Nordic American Tankers by 198.9% in the third quarter. Quantbot Technologies LP now owns 207,008 shares of the shipping company’s stock worth $760,000 after purchasing an additional 137,745 shares during the last quarter. Raymond James Trust N.A. purchased a new stake in Nordic American Tankers in the third quarter worth about $37,000. Charles Schwab Investment Management Inc. boosted its stake in Nordic American Tankers by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock worth $1,796,000 after acquiring an additional 7,382 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Nordic American Tankers in the third quarter worth approximately $237,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 1.6 %

NYSE NAT opened at $2.52 on Wednesday. The company has a 50 day moving average price of $2.98 and a 200 day moving average price of $3.47. Nordic American Tankers Limited has a 52 week low of $2.41 and a 52 week high of $4.64. The firm has a market cap of $526.17 million, a PE ratio of 8.69 and a beta of -0.26. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36.

Nordic American Tankers Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 17th will be paid a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 19.05%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 55.17%.

Analysts Set New Price Targets

A number of brokerages have commented on NAT. Jefferies Financial Group restated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 29th. Evercore ISI cut their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a report on Friday, August 30th. Finally, StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd.

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.