Nordic American Tankers Limited (NYSE:NAT) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Nordic American Tankers Limited (NYSE:NAT) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,678,423 shares of the shipping company’s stock after purchasing an additional 246,365 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.28% of Nordic American Tankers worth $6,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Ellevest Inc. grew its position in shares of Nordic American Tankers by 66.4% in the fourth quarter. Ellevest Inc. now owns 28,654 shares of the shipping company’s stock valued at $72,000 after purchasing an additional 11,436 shares in the last quarter. Ethic Inc. grew its position in shares of Nordic American Tankers by 120.6% in the fourth quarter. Ethic Inc. now owns 105,248 shares of the shipping company’s stock valued at $263,000 after purchasing an additional 57,535 shares in the last quarter. Deutsche Bank AG grew its position in shares of Nordic American Tankers by 52.6% in the fourth quarter. Deutsche Bank AG now owns 170,812 shares of the shipping company’s stock valued at $427,000 after purchasing an additional 58,895 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Nordic American Tankers in the fourth quarter valued at approximately $2,072,000. Finally, Captrust Financial Advisors grew its position in shares of Nordic American Tankers by 14.3% in the fourth quarter. Captrust Financial Advisors now owns 128,544 shares of the shipping company’s stock valued at $321,000 after purchasing an additional 16,076 shares in the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NAT has been the subject of several analyst reports. StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, April 9th. Jefferies Financial Group reissued a “hold” rating and set a $3.00 target price on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Price Performance

NAT stock opened at $2.76 on Friday. The business has a fifty day moving average of $2.52 and a two-hundred day moving average of $2.66. 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 stock has a market cap of $583.37 million, a price-to-earnings ratio of 9.50 and a beta of -0.27. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $4.40.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data 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 net margin of 26.41% and a return on equity of 11.95%. The firm had revenue of $46.39 million during the quarter, compared to analyst estimates of $51.38 million. As a group, research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.06 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 8.71%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 109.09%.

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.