Rhumbline Advisers Acquires 5,439 Shares of Nordic American Tankers Limited (NYSE:NAT)

Rhumbline Advisers boosted its holdings in Nordic American Tankers Limited (NYSE:NAT) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 483,457 shares of the shipping company’s stock after purchasing an additional 5,439 shares during the quarter. Rhumbline Advisers owned about 0.23% of Nordic American Tankers worth $1,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Trust N.A. purchased a new stake in shares of Nordic American Tankers in the 3rd quarter worth approximately $37,000. Ballentine Partners LLC boosted its holdings in Nordic American Tankers by 90.7% in the fourth quarter. Ballentine Partners LLC now owns 24,737 shares of the shipping company’s stock worth $62,000 after acquiring an additional 11,767 shares in the last quarter. Realta Investment Advisors purchased a new stake in shares of Nordic American Tankers in the fourth quarter worth $67,000. Franklin Resources Inc. increased its holdings in shares of Nordic American Tankers by 99.8% during the third quarter. Franklin Resources Inc. now owns 25,333 shares of the shipping company’s stock valued at $92,000 after acquiring an additional 12,651 shares in the last quarter. Finally, Sigma Planning Corp purchased a new position in shares of Nordic American Tankers in the 3rd quarter worth about $108,000. Institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NAT shares. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a research report on Friday, February 28th. StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday, February 27th.

Nordic American Tankers Trading Down 2.6 %

Shares of NYSE:NAT opened at $2.47 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers Limited has a 1 year low of $2.41 and a 1 year high of $4.40. The company has a market cap of $514.68 million, a P/E ratio of 8.50 and a beta of -0.31. The stock’s fifty day moving average price is $2.66 and its 200-day moving average price is $3.07.

Nordic American Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 9.74%. The ex-dividend date is Monday, March 10th. Nordic American Tankers’s dividend payout ratio is currently 82.76%.

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.