VSM Wealth Advisory LLC Buys Shares of 30,000 Nordic American Tankers Limited (NYSE:NAT)

VSM Wealth Advisory LLC acquired 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 Securities & Exchange Commission. The firm acquired 30,000 shares of the shipping company’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NAT. Xponance Inc. increased its stake in Nordic American Tankers by 41.4% in the 4th quarter. Xponance Inc. now owns 18,586 shares of the shipping company’s stock valued at $46,000 after buying an additional 5,439 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Nordic American Tankers by 149.5% during the 4th quarter. Signaturefd LLC now owns 30,975 shares of the shipping company’s stock worth $77,000 after buying an additional 18,558 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Nordic American Tankers during the fourth quarter worth approximately $48,000. Commonwealth Equity Services LLC grew its holdings in Nordic American Tankers by 33.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 438,641 shares of the shipping company’s stock valued at $1,097,000 after buying an additional 109,093 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Nordic American Tankers in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Stock Up 2.9 %

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

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

Nordic American Tankers Cuts Dividend

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

Analysts Set New Price Targets

NAT has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a report on Friday, February 28th. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Sunday.

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.