Quantbot Technologies LP Invests $1.69 Million in Nordic American Tankers Limited $NAT

Quantbot Technologies LP purchased a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) during the second quarter, Holdings Channel reports. The fund purchased 305,409 shares of the shipping company’s stock, valued at approximately $1,692,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Nordic American Tankers by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company’s stock worth $71,430,000 after buying an additional 460,555 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Nordic American Tankers in the first quarter worth about $4,377,000. Simcoe Capital LLC bought a new stake in shares of Nordic American Tankers during the 4th quarter worth about $3,522,000. GSA Capital Partners LLP boosted its stake in shares of Nordic American Tankers by 44.5% during the 2nd quarter. GSA Capital Partners LLP now owns 241,337 shares of the shipping company’s stock worth $1,337,000 after acquiring an additional 74,358 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Nordic American Tankers by 384.2% during the 1st quarter. Sei Investments Co. now owns 130,281 shares of the shipping company’s stock valued at $763,000 after acquiring an additional 103,374 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nordic American Tankers presently has an average rating of “Reduce” and an average target price of $4.00.

Nordic American Tankers Price Performance

NYSE NAT opened at $6.99 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $6.26 and a 200 day simple moving average of $5.71. The company has a market cap of $1.48 billion, a P/E ratio of 25.88 and a beta of -0.57. Nordic American Tankers Limited has a 1 year low of $2.96 and a 1 year high of $7.20.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $77.51 million for the quarter, compared to the consensus estimate of $81.86 million. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. On average, sell-side analysts predict that Nordic American Tankers Limited will post 0.58 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 12.6%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. Nordic American Tankers’s payout ratio is presently 325.93%.

Nordic American Tankers Company 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.