MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $10.64 Million Stake in Nordic American Tankers Limited $NAT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nordic American Tankers by 61.5%, owning over 4.3 million shares worth approximately $10.6 million as of the end of the first quarter.
• Nordic American Tankers announced a quarterly dividend of $0.10 per share, reflecting an increase from the previous dividend of $0.07, with a dividend yield of 12.5%.
• The company's recent earnings report indicated a loss of $0.02 per share, falling short of analysts' estimates, and a revenue of $40.15 million, which was below expectations of $53.35 million.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 61.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,326,919 shares of the shipping company's stock after purchasing an additional 1,648,496 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.04% of Nordic American Tankers worth $10,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NAT. AQR Capital Management LLC grew its holdings in shares of Nordic American Tankers by 269.8% during the 1st quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company's stock valued at $319,000 after acquiring an additional 94,514 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Nordic American Tankers during the 1st quarter valued at $67,000. MetLife Investment Management LLC grew its holdings in shares of Nordic American Tankers by 8.9% during the 1st quarter. MetLife Investment Management LLC now owns 111,449 shares of the shipping company's stock valued at $274,000 after acquiring an additional 9,155 shares in the last quarter. Jump Financial LLC grew its holdings in shares of Nordic American Tankers by 44.7% during the 1st quarter. Jump Financial LLC now owns 264,617 shares of the shipping company's stock valued at $651,000 after acquiring an additional 81,724 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new position in shares of Nordic American Tankers during the 1st quarter valued at $49,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NAT. Wall Street Zen cut shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Jefferies Financial Group restated a "hold" rating and set a $3.00 price target on shares of Nordic American Tankers in a report on Thursday, August 28th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Nordic American Tankers presently has a consensus rating of "Hold" and a consensus price target of $3.00.

Nordic American Tankers Stock Up 4.0%

Shares of NAT stock traded up $0.13 on Monday, hitting $3.29. The company's stock had a trading volume of 1,675,463 shares, compared to its average volume of 2,498,702. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.33 and a quick ratio of 2.04. Nordic American Tankers Limited has a fifty-two week low of $2.13 and a fifty-two week high of $3.83. The firm's fifty day moving average price is $2.90 and its 200-day moving average price is $2.70. The stock has a market capitalization of $695.60 million, a price-to-earnings ratio of 46.93 and a beta of -0.22.

Nordic American Tankers (NYSE:NAT - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. The business had revenue of $40.15 million during the quarter, compared to analyst estimates of $53.35 million. Research analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, September 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.40 dividend on an annualized basis and a yield of 12.2%. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.07. Nordic American Tankers's dividend payout ratio (DPR) is presently 571.43%.

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.