746,979 Shares in Nordic American Tankers Limited $NAT Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital acquired 746,979 shares of Nordic American Tankers in the first quarter, worth approximately $4.38 million and representing a 0.35% stake. Institutional investors and hedge funds collectively own 44.29% of NAT.
• Analyst sentiment is cautious: NAT has an average rating of “Reduce,” with two Holds and one Sell, and a consensus price target of $4.00. Evercore downgraded the stock to “Underperform” with a $4.50 target.
• NAT reported quarterly EPS of $0.17, slightly above estimates, while revenue fell short of expectations. The company raised its quarterly dividend to $0.22, implying an annualized yield of about 13.7% at the reported share price.

Arrowstreet Capital Limited Partnership purchased a new stake in Nordic American Tankers Limited (NYSE:NAT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 746,979 shares of the shipping company's stock, valued at approximately $4,377,000. Arrowstreet Capital Limited Partnership owned 0.35% of Nordic American Tankers at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NAT. Dimensional Fund Advisors LP increased its stake in Nordic American Tankers by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company's stock worth $71,430,000 after acquiring an additional 460,555 shares during the period. Simcoe Capital LLC bought a new stake in shares of Nordic American Tankers during the 4th quarter valued at $3,522,000. CenterBook Partners LP grew its holdings in shares of Nordic American Tankers by 110.1% during the 4th quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company's stock worth $12,729,000 after purchasing an additional 1,939,211 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Nordic American Tankers during the 2nd quarter worth $379,000. Finally, Cerity Partners LLC increased its position in shares of Nordic American Tankers by 54.2% in the second quarter. Cerity Partners LLC now owns 34,043 shares of the shipping company's stock worth $90,000 after purchasing an additional 11,971 shares during the period. 44.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NAT has been the subject of a number of analyst reports. Wall Street Zen downgraded Nordic American Tankers from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 26th. Evercore downgraded shares of Nordic American Tankers from an "in-line" rating to an "underperform" rating and set a $4.50 price objective on the stock. in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $4.00.

Nordic American Tankers Stock Down 1.6%

Shares of NYSE NAT opened at $6.42 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 23.80 and a beta of -0.57. Nordic American Tankers Limited has a 12 month low of $2.75 and a 12 month high of $6.73. The stock has a 50-day moving average price of $5.86 and a two-hundred day moving average price of $5.44.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The company had revenue of $77.51 million for the quarter, compared to the consensus estimate of $81.86 million. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. As a group, analysts forecast that Nordic American Tankers Limited will post 0.58 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were given a $0.22 dividend. This is an increase from Nordic American Tankers's previous quarterly dividend of $0.17. This represents a $0.88 dividend on an annualized basis and a yield of 13.7%. The ex-dividend date was Wednesday, June 10th. Nordic American Tankers's dividend payout ratio (DPR) is 325.93%.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.

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