B. Riley Wealth Advisors Inc. Purchases 28,670 Shares of Nordic American Tankers Limited (NYSE:NAT)

B. Riley Wealth Advisors Inc. raised its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 178.9% during the 3rd quarter, Holdings Channel reports. The fund owned 44,694 shares of the shipping company’s stock after purchasing an additional 28,670 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Nordic American Tankers were worth $171,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Advisers LP raised its stake in Nordic American Tankers by 67.6% during the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock valued at $13,851,000 after purchasing an additional 1,521,900 shares in the last quarter. Philip James Wealth Mangement LLC purchased a new stake in shares of Nordic American Tankers during the 3rd quarter valued at about $4,069,000. TrueMark Investments LLC bought a new position in shares of Nordic American Tankers in the 2nd quarter valued at about $4,373,000. American Century Companies Inc. grew its position in Nordic American Tankers by 40.5% in the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock worth $13,928,000 after acquiring an additional 1,009,096 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Nordic American Tankers by 122.8% during the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after acquiring an additional 711,973 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Down 1.2 %

Shares of NYSE:NAT opened at $2.44 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The business has a 50 day simple moving average of $3.02 and a two-hundred day simple moving average of $3.49. Nordic American Tankers Limited has a 1 year low of $2.41 and a 1 year high of $4.64. The firm has a market capitalization of $509.46 million, a PE ratio of 8.41 and a beta of -0.26.

Nordic American Tankers Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be given a $0.04 dividend. This represents a $0.48 annualized dividend and a yield of 19.67%. The ex-dividend date is Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 55.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NAT shares. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Jefferies Financial Group restated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 29th. Finally, Evercore ISI cut their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th.

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 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.