VSM Wealth Advisory LLC Makes New Investment in Nordic American Tankers Limited (NYSE:NAT)

VSM Wealth Advisory LLC purchased a new position in shares of Nordic American Tankers Limited (NYSE:NAT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 30,000 shares of the shipping company’s stock, valued at approximately $75,000.

Several other large investors also recently modified their holdings of NAT. Barclays PLC lifted its position in shares of Nordic American Tankers by 274.8% during the 3rd quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock valued at $984,000 after acquiring an additional 196,571 shares during the period. Empowered Funds LLC acquired a new position in shares of Nordic American Tankers during the fourth quarter valued at about $509,000. Philip James Wealth Mangement LLC raised its holdings in shares of Nordic American Tankers by 8.8% during the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company’s stock valued at $3,016,000 after purchasing an additional 97,819 shares during the period. Victory Capital Management Inc. boosted its position in shares of Nordic American Tankers by 834.7% during the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock worth $1,363,000 after purchasing an additional 486,710 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Nordic American Tankers by 1.1% in the 4th quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after buying an additional 5,439 shares during the period. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 2.9 %

NYSE NAT opened at $2.67 on Thursday. Nordic American Tankers Limited has a 12 month low of $2.39 and a 12 month high of $4.40. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $556.44 million, a P/E ratio of 9.19 and a beta of -0.33. The business has a fifty day simple moving average of $2.65 and a 200 day simple moving average of $2.99.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The firm had revenue of $46.39 million for the quarter, compared to the consensus estimate of $51.38 million. On average, analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 9.01%. The ex-dividend date is Monday, March 10th. Nordic American Tankers’s dividend payout ratio is presently 109.09%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NAT. Jefferies Financial Group restated a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a report on Friday, February 28th. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Sunday.

Nordic American Tankers 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.