Millennium Management LLC Has $5.14 Million Position in Nordic American Tankers Limited (NYSE:NAT)

Millennium Management LLC raised its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 122.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,291,682 shares of the shipping company’s stock after purchasing an additional 711,973 shares during the quarter. Millennium Management LLC owned 0.62% of Nordic American Tankers worth $5,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Nordic American Tankers by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after purchasing an additional 621,588 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Nordic American Tankers by 3.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock valued at $31,610,000 after purchasing an additional 221,478 shares in the last quarter. American Century Companies Inc. increased its stake in Nordic American Tankers by 40.5% during the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after purchasing an additional 1,009,096 shares in the last quarter. Vanguard Group Inc. increased its stake in Nordic American Tankers by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 275,707 shares in the last quarter. Finally, TrueMark Investments LLC bought a new stake in Nordic American Tankers during the 2nd quarter valued at $4,373,000. Institutional investors own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

Nordic American Tankers Stock Performance

NYSE NAT opened at $3.67 on Friday. Nordic American Tankers Limited has a 1 year low of $3.31 and a 1 year high of $4.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63. The firm has a market cap of $765.25 million, a price-to-earnings ratio of 12.64 and a beta of -0.20. The company has a fifty day moving average price of $3.64 and a 200-day moving average price of $3.84.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The company 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 11.60%. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, equities research analysts predict that Nordic American Tankers Limited will post 0.38 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

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 given 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 13.10%. Nordic American Tankers’s payout ratio is currently 165.52%.

About Nordic American Tankers

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.