Renaissance Technologies LLC Purchases 398,700 Shares of Nordic American Tankers Limited (NYSE:NAT)

Renaissance Technologies LLC increased its position in Nordic American Tankers Limited (NYSE:NAT - Free Report) by 68.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 978,100 shares of the shipping company's stock after acquiring an additional 398,700 shares during the period. Renaissance Technologies LLC owned approximately 0.47% of Nordic American Tankers worth $2,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NAT. Geode Capital Management LLC lifted its holdings in shares of Nordic American Tankers by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,493,016 shares of the shipping company's stock worth $6,233,000 after purchasing an additional 22,615 shares during the last quarter. Philip James Wealth Mangement LLC raised its holdings in shares of Nordic American Tankers by 8.8% during the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company's stock worth $3,016,000 after acquiring an additional 97,819 shares in the last quarter. Victory Capital Management Inc. grew its position in Nordic American Tankers by 834.7% in the fourth quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company's stock worth $1,363,000 after acquiring an additional 486,710 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Nordic American Tankers by 1.1% in the 4th quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company's stock valued at $1,209,000 after acquiring an additional 5,439 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Nordic American Tankers in the fourth quarter valued at about $1,202,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Trading Up 1.0 %

Shares of Nordic American Tankers stock traded up $0.03 on Thursday, hitting $2.59. 1,288,913 shares of the company's stock traded hands, compared to its average volume of 2,543,502. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers Limited has a one year low of $2.13 and a one year high of $4.40. The company has a fifty day moving average of $2.49 and a two-hundred day moving average of $2.73. The company has a market capitalization of $539.75 million, a price-to-earnings ratio of 8.95 and a beta of 0.02.

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

Nordic American Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 9.28%. The ex-dividend date was Monday, March 10th. Nordic American Tankers's dividend payout ratio (DPR) is currently 109.09%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Jefferies Financial Group reiterated a "hold" rating and set a $3.00 price objective on shares of Nordic American Tankers in a research note on Friday, February 28th. StockNews.com downgraded 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.