Sei Investments Co. Acquires 7,663 Shares of Nordic American Tankers Limited (NYSE:NAT)

Sei Investments Co. grew its holdings in Nordic American Tankers Limited (NYSE:NAT) by 9.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,791 shares of the shipping company’s stock after acquiring an additional 7,663 shares during the period. Sei Investments Co.’s holdings in Nordic American Tankers were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NAT. ProShare Advisors LLC lifted its holdings in Nordic American Tankers by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock worth $145,000 after purchasing an additional 2,904 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Nordic American Tankers by 6.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock worth $185,000 after buying an additional 3,003 shares in the last quarter. Pettinga Financial Advisors LLC boosted its position in shares of Nordic American Tankers by 38.3% during the first quarter. Pettinga Financial Advisors LLC now owns 15,900 shares of the shipping company’s stock worth $62,000 after acquiring an additional 4,400 shares during the last quarter. Headlands Technologies LLC purchased a new position in Nordic American Tankers during the second quarter valued at $25,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Nordic American Tankers by 18.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 58,791 shares of the shipping company’s stock valued at $231,000 after acquiring an additional 8,985 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

Nordic American Tankers stock opened at $3.67 on Friday. The company’s 50-day moving average price is $3.64 and its 200-day moving average price is $3.84. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $766.28 million, a PE ratio of 11.47 and a beta of -0.20. Nordic American Tankers Limited has a twelve month low of $3.31 and a twelve month high of $4.83.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, equities research analysts forecast that Nordic American Tankers Limited will post 0.38 EPS for the current fiscal year.

Nordic American Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 annualized dividend and a yield of 13.08%. Nordic American Tankers’s payout ratio is presently 150.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Evercore ISI cut their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research report on Friday, August 30th. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $4.00 price objective on shares of Nordic American Tankers in a report on Thursday, September 12th.

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.