Rathbones Group PLC Acquires 72,000 Shares of Nordic American Tankers Limited (NYSE:NAT)

Rathbones Group PLC grew its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 44.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,450 shares of the shipping company’s stock after buying an additional 72,000 shares during the quarter. Rathbones Group PLC owned approximately 0.11% of Nordic American Tankers worth $933,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Nordic American Tankers during the second quarter worth about $25,000. Diversify Advisory Services LLC acquired a new stake in shares of Nordic American Tankers in the 1st quarter valued at approximately $41,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Nordic American Tankers in the first quarter valued at $45,000. SG Americas Securities LLC acquired a new position in Nordic American Tankers during the first quarter worth $47,000. Finally, Caprock Group LLC acquired a new position in Nordic American Tankers during the second quarter worth $55,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Price Performance

NYSE:NAT opened at $3.66 on Tuesday. The company has a market cap of $764.19 million, a P/E ratio of 11.44 and a beta of -0.19. The firm’s fifty day moving average price is $3.65 and its two-hundred day moving average price is $3.88. Nordic American Tankers Limited has a one year low of $3.31 and a one year high of $4.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.60.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.56%. The business had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. During the same quarter in the prior year, the business earned $0.13 EPS. Equities analysts expect that Nordic American Tankers Limited will post 0.41 earnings per share for the current year.

Nordic American Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.11%. Nordic American Tankers’s payout ratio is presently 150.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NAT shares. StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Evercore ISI cut their target price 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. Finally, Jefferies Financial Group restated a “hold” rating and issued a $4.00 price objective on shares of Nordic American Tankers in a research note on Thursday, September 12th.

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.