Van Den Berg Management I Inc. reduced its position in Nordic American Tanker Ltd (NYSE:NAT) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 796,052 shares of the shipping company’s stock after selling 44,705 shares during the quarter. Van Den Berg Management I Inc.’s holdings in Nordic American Tanker were worth $1,958,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Nordic American Tanker by 1.4% in the 4th quarter. BlackRock Inc. now owns 4,536,032 shares of the shipping company’s stock worth $11,159,000 after purchasing an additional 64,705 shares during the period. Key Square Capital Management LLC purchased a new stake in Nordic American Tanker during the 4th quarter worth approximately $5,768,000. State Street Corp increased its stake in Nordic American Tanker by 6.9% during the 2nd quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock worth $11,272,000 after buying an additional 114,052 shares during the period. Guggenheim Capital LLC increased its position in shares of Nordic American Tanker by 30.0% in the 4th quarter. Guggenheim Capital LLC now owns 1,135,640 shares of the shipping company’s stock valued at $2,792,000 after purchasing an additional 262,039 shares during the last quarter. Finally, WealthTrust Axiom LLC increased its position in shares of Nordic American Tanker by 20.8% in the 4th quarter. WealthTrust Axiom LLC now owns 784,589 shares of the shipping company’s stock valued at $1,930,000 after purchasing an additional 134,898 shares during the last quarter. 28.75% of the stock is currently owned by institutional investors.
Shares of Nordic American Tanker Ltd (NAT) traded up $0.02 during trading hours on Monday, hitting $2.25. 129,663 shares of the company’s stock were exchanged, compared to its average volume of 1,695,188. Nordic American Tanker Ltd has a 52 week low of $1.82 and a 52 week high of $8.68. The company has a current ratio of 5.01, a quick ratio of 4.10 and a debt-to-equity ratio of 0.46.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Wednesday, February 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Tuesday, February 20th. Nordic American Tanker’s payout ratio is -16.44%.
NAT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Morgan Stanley dropped their price objective on shares of Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Credit Suisse Group dropped their price objective on shares of Nordic American Tanker from $4.00 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 13th. Seaport Global Securities set a $3.00 price objective on shares of Nordic American Tanker and gave the company a “hold” rating in a research report on Friday, January 5th. Finally, Maxim Group reissued a “sell” rating and issued a $1.00 price objective on shares of Nordic American Tanker in a research report on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Nordic American Tanker presently has an average rating of “Hold” and an average price target of $3.36.
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About Nordic American Tanker
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.
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