Nisa Investment Advisors LLC Has $229,000 Stake in Nordic American Tankers Limited (NYSE:NAT)

Nisa Investment Advisors LLC raised its position in Nordic American Tankers Limited (NYSE:NAT) by 1,374.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 54,497 shares of the shipping company’s stock after buying an additional 50,800 shares during the period. Nisa Investment Advisors LLC’s holdings in Nordic American Tankers were worth $229,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NAT. Bank of New York Mellon Corp boosted its position in shares of Nordic American Tankers by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 510,212 shares of the shipping company’s stock worth $1,087,000 after purchasing an additional 14,048 shares during the last quarter. American Century Companies Inc. increased its position in shares of Nordic American Tankers by 25.3% in the first quarter. American Century Companies Inc. now owns 606,947 shares of the shipping company’s stock valued at $1,293,000 after acquiring an additional 122,381 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Nordic American Tankers by 26.6% in the first quarter. HighTower Advisors LLC now owns 128,599 shares of the shipping company’s stock valued at $274,000 after acquiring an additional 26,995 shares during the last quarter. Rhumbline Advisers grew its holdings in Nordic American Tankers by 11.1% during the first quarter. Rhumbline Advisers now owns 257,510 shares of the shipping company’s stock worth $548,000 after purchasing an additional 25,644 shares during the period. Finally, BlackRock Inc. grew its holdings in Nordic American Tankers by 3.8% during the first quarter. BlackRock Inc. now owns 9,897,210 shares of the shipping company’s stock worth $21,082,000 after purchasing an additional 366,761 shares during the period. 44.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and set a $5.50 price objective on shares of Nordic American Tankers in a report on Thursday, February 29th. TheStreet cut Nordic American Tankers from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Finally, Evercore ISI cut their price target on Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating for the company in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Nordic American Tankers has a consensus rating of “Moderate Buy” and an average target price of $5.33.

Nordic American Tankers Stock Up 1.1 %

Shares of NAT opened at $3.81 on Friday. Nordic American Tankers Limited has a one year low of $3.26 and a one year high of $4.83. The company has a market cap of $795.51 million, a P/E ratio of 8.11 and a beta of -0.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.55 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $4.02 and a two-hundred day simple moving average of $4.20.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, March 1st. The shipping company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.06). Nordic American Tankers had a net margin of 37.65% and a return on equity of 18.12%. The firm had revenue of $59.25 million for the quarter, compared to analyst estimates of $68.90 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Research analysts forecast that Nordic American Tankers Limited will post 0.6 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.12 per share. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. This represents a $0.48 annualized dividend and a yield of 12.60%. The ex-dividend date was Tuesday, March 19th. Nordic American Tankers’s payout ratio is currently 102.13%.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.