Squarepoint Ops LLC Boosts Stock Position in Nordic American Tankers Limited (NYSE:NAT)

Squarepoint Ops LLC increased its holdings in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 2,001.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 413,568 shares of the shipping company's stock after purchasing an additional 393,884 shares during the quarter. Squarepoint Ops LLC owned 0.20% of Nordic American Tankers worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Two Sigma Advisers LP lifted its stake in Nordic American Tankers by 0.4% during the 4th quarter. Two Sigma Advisers LP now owns 3,787,400 shares of the shipping company's stock valued at $9,468,000 after acquiring an additional 13,300 shares during the period. ProShare Advisors LLC raised its position in Nordic American Tankers by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 57,408 shares of the shipping company's stock worth $144,000 after acquiring an additional 18,890 shares during the period. Millennium Management LLC lifted its position in Nordic American Tankers by 9.9% during the fourth quarter. Millennium Management LLC now owns 673,097 shares of the shipping company's stock valued at $1,683,000 after purchasing an additional 60,391 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nordic American Tankers by 10.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,678,423 shares of the shipping company's stock valued at $6,696,000 after purchasing an additional 246,365 shares in the last quarter. Finally, Ellevest Inc. increased its position in Nordic American Tankers by 66.4% in the fourth quarter. Ellevest Inc. now owns 28,654 shares of the shipping company's stock worth $72,000 after buying an additional 11,436 shares in the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Trading Up 3.3%

NAT traded up $0.09 during trading on Wednesday, reaching $2.78. The company had a trading volume of 3,182,588 shares, compared to its average volume of 2,531,201. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. The business has a 50 day simple moving average of $2.55 and a 200-day simple moving average of $2.62. The stock has a market cap of $588.67 million, a P/E ratio of 9.59 and a beta of -0.27. Nordic American Tankers Limited has a 52 week low of $2.13 and a 52 week high of $4.23.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 dividend on an annualized basis and a dividend yield of 10.07%. Nordic American Tankers's payout ratio is currently 127.27%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NAT. Jefferies Financial Group reaffirmed a "hold" rating and set a $3.00 price objective on shares of Nordic American Tankers in a research report on Thursday, May 29th. Wall Street Zen downgraded shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Friday, May 30th.

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.