MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 246,365 Shares of Nordic American Tankers Limited (NYSE:NAT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 10.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,678,423 shares of the shipping company's stock after acquiring an additional 246,365 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.28% of Nordic American Tankers worth $6,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new stake in Nordic American Tankers during the 4th quarter worth approximately $26,000. Summit Financial LLC bought a new stake in Nordic American Tankers during the 4th quarter worth approximately $32,000. Avantax Advisory Services Inc. bought a new position in shares of Nordic American Tankers in the 4th quarter worth $33,000. AXQ Capital LP bought a new position in shares of Nordic American Tankers in the 4th quarter worth $43,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Nordic American Tankers in the 4th quarter worth $43,000. Institutional investors own 44.29% of the company's stock.

Nordic American Tankers Price Performance

Shares of NYSE:NAT traded up $0.08 during trading on Friday, reaching $2.68. The company had a trading volume of 2,604,658 shares, compared to its average volume of 2,556,420. The company has a fifty day moving average of $2.53 and a two-hundred day moving average of $2.64. The stock has a market capitalization of $566.43 million, a P/E ratio of 9.22 and a beta of -0.27. Nordic American Tankers Limited has a 12 month low of $2.13 and a 12 month high of $4.35. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

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

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 8.97%. The ex-dividend date was Monday, March 10th. Nordic American Tankers's dividend payout ratio is currently 109.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NAT shares. Jefferies Financial Group reissued a "hold" rating and issued a $3.00 price target on shares of Nordic American Tankers in a report on Friday, February 28th. Wall Street Zen lowered shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Wednesday, April 9th.

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.