Simcoe Capital LLC Acquires New Position in Nordic American Tankers Limited $NAT

Simcoe Capital LLC acquired a new stake in Nordic American Tankers Limited (NYSE:NAT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,023,857 shares of the shipping company’s stock, valued at approximately $3,522,000. Nordic American Tankers comprises about 3.3% of Simcoe Capital LLC’s investment portfolio, making the stock its 15th biggest position. Simcoe Capital LLC owned about 0.48% of Nordic American Tankers as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Argos Wealth Advisors LLC acquired a new position in Nordic American Tankers in the 4th quarter worth approximately $39,000. Sequoia Financial Advisors LLC grew its stake in Nordic American Tankers by 18.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 22,831 shares of the shipping company’s stock valued at $79,000 after acquiring an additional 3,571 shares during the period. Torren Management LLC purchased a new position in Nordic American Tankers in the 4th quarter valued at $34,000. Kestra Private Wealth Services LLC lifted its holdings in Nordic American Tankers by 23.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 18,201 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 3,450 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Nordic American Tankers by 99.3% in the fourth quarter. Farther Finance Advisors LLC now owns 11,294 shares of the shipping company’s stock valued at $39,000 after purchasing an additional 5,626 shares during the period. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Stock Up 0.1%

Nordic American Tankers stock opened at $5.82 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.94 and a current ratio of 2.24. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 83.21 and a beta of -0.54. Nordic American Tankers Limited has a fifty-two week low of $2.55 and a fifty-two week high of $6.34. The stock’s fifty day moving average is $5.69 and its two-hundred day moving average is $4.53.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Friday, February 27th. The shipping company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%. The company had revenue of $58.76 million for the quarter, compared to analyst estimates of $69.43 million. Analysts predict that Nordic American Tankers Limited will post 0.43 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 11.7%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, March 10th. Nordic American Tankers’s payout ratio is 971.43%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Evercore lowered shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a report on Tuesday, April 21st. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.