Dimensional Fund Advisors LP Raises Stock Holdings in Nordic American Tankers Limited $NAT

Dimensional Fund Advisors LP grew its holdings in Nordic American Tankers Limited (NYSE:NAT) by 3.9% in the first quarter, Holdings Channel reports. The institutional investor owned 12,189,811 shares of the shipping company’s stock after acquiring an additional 460,555 shares during the quarter. Dimensional Fund Advisors LP owned 0.06% of Nordic American Tankers worth $71,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NAT. SmartHarvest Portfolios LLC grew its position in shares of Nordic American Tankers by 18.0% in the first quarter. SmartHarvest Portfolios LLC now owns 13,666 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 2,087 shares during the period. ProShare Advisors LLC increased its stake in shares of Nordic American Tankers by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 37,492 shares of the shipping company’s stock worth $129,000 after purchasing an additional 2,416 shares in the last quarter. Cerity Partners LLC raised its position in shares of Nordic American Tankers by 4.7% during the 4th quarter. Cerity Partners LLC now owns 54,470 shares of the shipping company’s stock worth $187,000 after purchasing an additional 2,449 shares during the last quarter. Signaturefd LLC raised its position in shares of Nordic American Tankers by 9.5% during the 4th quarter. Signaturefd LLC now owns 35,883 shares of the shipping company’s stock worth $123,000 after purchasing an additional 3,120 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Nordic American Tankers by 8.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 44,606 shares of the shipping company’s stock worth $153,000 after purchasing an additional 3,433 shares during the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NAT. Evercore cut 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 cut Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nordic American Tankers has a consensus rating of “Reduce” and an average price target of $4.00.

Nordic American Tankers Price Performance

Nordic American Tankers stock opened at $6.51 on Friday. The company has a fifty day simple moving average of $5.84 and a 200-day simple moving average of $5.42. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 24.11 and a beta of -0.57. The company has a quick ratio of 2.75, a current ratio of 3.00 and a debt-to-equity ratio of 0.83. Nordic American Tankers Limited has a 52-week low of $2.72 and a 52-week high of $6.73.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The firm had revenue of $77.51 million for the quarter, compared to analyst estimates of $81.86 million. On average, equities analysts anticipate that Nordic American Tankers Limited will post 0.58 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.5%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 10th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 325.93%.

About Nordic American Tankers

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.