Rhumbline Advisers Has $753,000 Position in Nordic American Tankers Limited (NYSE:NAT)

Rhumbline Advisers decreased its holdings in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 36.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 306,047 shares of the shipping company's stock after selling 177,410 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Nordic American Tankers worth $753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WealthTrust Axiom LLC grew its position in shares of Nordic American Tankers by 0.7% in the fourth quarter. WealthTrust Axiom LLC now owns 652,683 shares of the shipping company's stock valued at $1,632,000 after purchasing an additional 4,665 shares during the last quarter. Xponance Inc. boosted its stake in Nordic American Tankers by 41.4% in the 4th quarter. Xponance Inc. now owns 18,586 shares of the shipping company's stock valued at $46,000 after purchasing an additional 5,439 shares during the period. Legal & General Group Plc grew its holdings 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 valued at $100,000 after buying an additional 6,712 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Nordic American Tankers by 20.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 45,280 shares of the shipping company's stock worth $113,000 after buying an additional 7,833 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its position in Nordic American Tankers by 18.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 53,105 shares of the shipping company's stock worth $135,000 after buying an additional 8,411 shares during the period. 44.29% of the stock is owned by institutional investors.

Nordic American Tankers Price Performance

Shares of NYSE:NAT traded down $0.13 during trading on Tuesday, reaching $2.65. 3,358,375 shares of the company traded hands, compared to its average volume of 2,576,727. The firm has a market capitalization of $560.08 million, a PE ratio of 12.02 and a beta of -0.20. Nordic American Tankers Limited has a 52 week low of $2.13 and a 52 week high of $4.23. 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 company's 50 day moving average is $2.65 and its two-hundred day moving average is $2.61.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, June 12th. This is a boost from Nordic American Tankers's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 10.59%. Nordic American Tankers's dividend payout ratio is presently 127.27%.

Analyst Ratings Changes

NAT has been the topic of several research reports. Wall Street Zen downgraded shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Jefferies Financial Group reissued a "hold" rating and issued a $3.00 price objective on shares of Nordic American Tankers in a report on Thursday, May 29th.

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.