CenterBook Partners LP lifted its position in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 88.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,135,619 shares of the shipping company's stock after purchasing an additional 1,467,916 shares during the period. CenterBook Partners LP owned about 1.48% of Nordic American Tankers worth $7,714,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Nordic American Tankers during the fourth quarter worth about $26,000. Summit Financial LLC purchased a new stake in Nordic American Tankers in the 4th quarter valued at approximately $32,000. Avantax Advisory Services Inc. purchased a new stake in Nordic American Tankers in the 4th quarter valued at approximately $33,000. Red Door Wealth Management LLC purchased a new stake in Nordic American Tankers in the 1st quarter valued at approximately $39,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Nordic American Tankers in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 44.29% of the company's stock.
Nordic American Tankers Price Performance
Shares of Nordic American Tankers stock traded down $0.04 during trading on Friday, hitting $2.69. 1,259,035 shares of the company were exchanged, compared to its average volume of 2,703,301. The firm has a 50 day moving average price of $2.71 and a 200 day moving average price of $2.63. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $569.61 million, a price-to-earnings ratio of 12.23 and a beta of -0.19. Nordic American Tankers Limited has a fifty-two week low of $2.13 and a fifty-two week high of $3.91.
Nordic American Tankers Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a $0.07 dividend. The ex-dividend date was Thursday, June 12th. This is an increase from Nordic American Tankers's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 10.41%. Nordic American Tankers's payout ratio is 127.27%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on NAT shares. Jefferies Financial Group reissued a "hold" rating and set a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday, May 29th. Wall Street Zen raised Nordic American Tankers from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th.
Get Our Latest Stock Report on NAT
Nordic American Tankers Company Profile
(
Free Report)
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.
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