SG Americas Securities LLC Buys 31,310 Shares of Nordic American Tankers Limited (NYSE:NAT)

SG Americas Securities LLC increased its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 260.2% in the second quarter, Holdings Channel.com reports. The fund owned 43,343 shares of the shipping company’s stock after purchasing an additional 31,310 shares during the period. SG Americas Securities LLC’s holdings in Nordic American Tankers were worth $173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NAT. Russell Investments Group Ltd. lifted its stake in Nordic American Tankers by 36,804.9% in the 1st quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock worth $2,432,000 after purchasing an additional 618,690 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Nordic American Tankers by 3.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock worth $31,610,000 after purchasing an additional 221,478 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Nordic American Tankers in the first quarter worth about $2,443,000. Vanguard Group Inc. boosted its stake in Nordic American Tankers by 19.6% during the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after buying an additional 275,707 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in Nordic American Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after buying an additional 2,904 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

NAT stock opened at $3.63 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.60. The company has a market capitalization of $757.93 million, a P/E ratio of 11.34 and a beta of -0.16. The business has a 50-day moving average price of $3.76 and a 200 day moving average price of $3.95. Nordic American Tankers Limited has a 1-year low of $3.31 and a 1-year high of $4.83.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The company had revenue of $60.57 million for the quarter, compared to analysts’ expectations of $66.19 million. Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. As a group, equities research analysts forecast that Nordic American Tankers Limited will post 0.41 EPS for the current fiscal year.

Nordic American Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Friday, June 28th were paid a $0.12 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.48 annualized dividend and a yield of 13.22%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 150.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Jefferies Financial Group dropped their price objective on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Nordic American Tankers has a consensus rating of “Hold” and an average target price of $5.17.

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.