Bridgeway Capital Management LLC Invests $2.07 Million in Nordic American Tankers Limited (NYSE:NAT)

Bridgeway Capital Management LLC acquired a new position in Nordic American Tankers Limited (NYSE:NAT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 828,717 shares of the shipping company's stock, valued at approximately $2,072,000. Bridgeway Capital Management LLC owned approximately 0.40% of Nordic American Tankers as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. WealthTrust Axiom LLC raised its holdings in Nordic American Tankers by 0.7% in the 4th quarter. WealthTrust Axiom LLC now owns 652,683 shares of the shipping company's stock valued at $1,632,000 after acquiring an additional 4,665 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Nordic American Tankers by 1.1% during the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company's stock valued at $1,209,000 after buying an additional 5,439 shares during the last quarter. Xponance Inc. raised its stake in shares of Nordic American Tankers by 41.4% in the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company's stock worth $46,000 after purchasing an additional 5,439 shares during the last quarter. SG Americas Securities LLC lifted its stake in Nordic American Tankers by 8.4% during the 4th quarter. SG Americas Securities LLC now owns 75,107 shares of the shipping company's stock valued at $188,000 after acquiring an additional 5,811 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Nordic American Tankers by 20.1% in the 4th quarter. Legal & General Group Plc now owns 40,074 shares of the shipping company's stock worth $100,000 after purchasing an additional 6,712 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Trading Up 0.9%

Shares of NAT traded up $0.03 during midday trading on Thursday, hitting $2.70. The stock had a trading volume of 690,149 shares, compared to its average volume of 2,554,385. The stock's 50 day moving average is $2.51 and its 200 day moving average is $2.67. The firm has a market cap of $570.67 million, a PE ratio of 9.29 and a beta of -0.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $4.40.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). The business had revenue of $46.39 million for the quarter, compared to analysts' expectations of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. As a group, analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date was Monday, March 10th. Nordic American Tankers's dividend payout ratio is presently 109.09%.

Analysts Set New Price Targets

Several research analysts recently commented on NAT shares. Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.00 price objective on shares of Nordic American Tankers in a report on Friday, February 28th. StockNews.com lowered Nordic American Tankers from a "hold" rating to a "sell" rating in a research report on Wednesday, April 9th.

Nordic American Tankers 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.