The Manufacturers Life Insurance Company Purchases Shares of 76,086 Nordic American Tankers Limited (NAT)

The Manufacturers Life Insurance Company purchased a new stake in Nordic American Tankers Limited (NYSE:NAT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 76,086 shares of the shipping company’s stock, valued at approximately $479,000. The Manufacturers Life Insurance Company owned 0.07% of Nordic American Tankers as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Nordic American Tankers by 37.9% in the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after buying an additional 4,454 shares during the period. Aperio Group LLC boosted its holdings in shares of Nordic American Tankers by 55.2% in the 2nd quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock valued at $142,000 after buying an additional 7,994 shares during the period. Sigma Planning Corp boosted its holdings in shares of Nordic American Tankers by 44.2% in the 2nd quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock valued at $151,000 after buying an additional 7,318 shares during the period. Airain ltd boosted its holdings in shares of Nordic American Tankers by 79.8% in the 2nd quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock valued at $175,000 after buying an additional 12,256 shares during the period. Finally, SFE Investment Counsel acquired a new position in shares of Nordic American Tankers in the 2nd quarter valued at about $186,000. 22.28% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of Nordic American Tankers from $6.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Maxim Group reiterated a “sell” rating on shares of Nordic American Tankers in a research report on Monday, November 6th. Zacks Investment Research downgraded shares of Nordic American Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 10th. Finally, TheStreet downgraded shares of Nordic American Tankers from a “c-” rating to a “d+” rating in a research report on Thursday, August 10th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.67.

Shares of Nordic American Tankers Limited (NYSE:NAT) opened at $4.10 on Friday. The firm has a market cap of $417.99, a PE ratio of 102.50 and a beta of 0.90. Nordic American Tankers Limited has a 52-week low of $4.00 and a 52-week high of $9.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.69 and a quick ratio of 3.87.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Monday, November 13th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.12 annualized dividend and a yield of 2.93%.

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About Nordic American Tankers

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

Institutional Ownership by Quarter for Nordic American Tankers (NYSE:NAT)

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