MML Investors Services LLC Raises Position in Nordic American Tankers Limited (NYSE:NAT)

MML Investors Services LLC increased its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 46.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,357 shares of the shipping company’s stock after buying an additional 27,210 shares during the quarter. MML Investors Services LLC’s holdings in Nordic American Tankers were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in Nordic American Tankers in the second quarter worth about $25,000. Raymond James Trust N.A. purchased a new position in shares of Nordic American Tankers in the 3rd quarter valued at approximately $37,000. Bluefin Capital Management LLC acquired a new stake in Nordic American Tankers in the 2nd quarter worth approximately $47,000. Caprock Group LLC purchased a new stake in Nordic American Tankers during the 2nd quarter worth approximately $55,000. Finally, Ballentine Partners LLC acquired a new position in Nordic American Tankers during the 2nd quarter valued at approximately $63,000. 44.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on NAT. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research note on Friday, November 29th. Evercore ISI lowered their price target 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. Finally, StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd.

Nordic American Tankers Trading Up 1.6 %

Shares of Nordic American Tankers stock opened at $2.52 on Wednesday. Nordic American Tankers Limited has a 1 year low of $2.41 and a 1 year high of $4.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The stock has a market cap of $526.17 million, a PE ratio of 8.69 and a beta of -0.26. The firm has a fifty day moving average price of $2.98 and a 200 day moving average price of $3.47.

Nordic American Tankers Dividend Announcement

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 issued a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a yield of 19.05%. The ex-dividend date is Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio (DPR) is 55.17%.

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.