Cerity Partners LLC Increases Holdings in Nordic American Tankers Limited (NYSE:NAT)

Cerity Partners LLC grew its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 34.0% in the first quarter, Holdings Channel reports. The institutional investor owned 22,072 shares of the shipping company’s stock after purchasing an additional 5,605 shares during the period. Cerity Partners LLC’s holdings in Nordic American Tankers were worth $54,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. WealthTrust Axiom LLC lifted its holdings in Nordic American Tankers by 0.7% during the 4th quarter. WealthTrust Axiom LLC now owns 652,683 shares of the shipping company’s stock worth $1,632,000 after buying an additional 4,665 shares during the last quarter. Legal & General Group Plc lifted its holdings in Nordic American Tankers by 20.1% during the 4th quarter. Legal & General Group Plc now owns 40,074 shares of the shipping company’s stock worth $100,000 after buying an additional 6,712 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Nordic American Tankers by 20.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 45,280 shares of the shipping company’s stock worth $113,000 after buying an additional 7,833 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Nordic American Tankers by 49.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,258 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 8,326 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Nordic American Tankers by 18.8% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 53,105 shares of the shipping company’s stock valued at $135,000 after purchasing an additional 8,411 shares during the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Stock Down 1.4%

Nordic American Tankers stock opened at $2.79 on Thursday. Nordic American Tankers Limited has a fifty-two week low of $2.13 and a fifty-two week high of $3.83. 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 company has a market capitalization of $590.78 million, a P/E ratio of 16.41 and a beta of -0.19. The stock has a 50-day simple moving average of $2.72 and a 200-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. Stockholders of record on Thursday, June 12th were issued a $0.07 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 10.04%. The ex-dividend date of this dividend was Thursday, June 12th. Nordic American Tankers’s payout ratio is presently 164.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a report on Thursday, May 29th. Wall Street Zen downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday, July 26th.

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.