Bank of New York Mellon Corp Reduces Stock Position in Nordic American Tankers Limited (NYSE:NAT)

Bank of New York Mellon Corp lowered its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 525,435 shares of the shipping company’s stock after selling 7,566 shares during the period. Bank of New York Mellon Corp’s holdings in Nordic American Tankers were worth $1,293,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NAT. Norges Bank bought a new position in Nordic American Tankers in the fourth quarter worth about $1,202,000. Wealth Enhancement Advisory Services LLC raised its stake in Nordic American Tankers by 49.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,258 shares of the shipping company’s stock worth $62,000 after buying an additional 8,326 shares in the last quarter. Renaissance Technologies LLC raised its stake in Nordic American Tankers by 68.8% in the fourth quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock worth $2,445,000 after buying an additional 398,700 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in Nordic American Tankers in the fourth quarter worth about $2,072,000. Finally, Raymond James Financial Inc. bought a new position in Nordic American Tankers in the fourth quarter worth about $94,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

NAT has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Thursday, May 29th. Wall Street Zen cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th.

Nordic American Tankers Stock Down 1.4%

Shares of Nordic American Tankers stock opened at $2.79 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.34 and a current ratio of 1.54. The stock has a market capitalization of $590.78 million, a PE ratio of 16.41 and a beta of -0.19. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $3.83. The company has a 50-day simple moving average of $2.72 and a two-hundred day simple moving average of $2.63.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 10.04%. Nordic American Tankers’s payout ratio is 164.71%.

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.