Los Angeles Capital Management LLC Invests $75,000 in Nordic American Tankers Limited $NAT

Los Angeles Capital Management LLC acquired a new position in shares of Nordic American Tankers Limited (NYSE:NAT) in the second quarter, HoldingsChannel.com reports. The firm acquired 28,435 shares of the shipping company’s stock, valued at approximately $75,000.

Other hedge funds also recently added to or reduced their stakes in the company. Prospera Financial Services Inc lifted its position in Nordic American Tankers by 21.4% in the 2nd quarter. Prospera Financial Services Inc now owns 24,680 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 4,343 shares during the last quarter. Savant Capital LLC bought a new position in shares of Nordic American Tankers in the second quarter worth $28,000. Bank of Montreal Can increased its holdings in shares of Nordic American Tankers by 140.6% during the second quarter. Bank of Montreal Can now owns 33,370 shares of the shipping company’s stock valued at $88,000 after purchasing an additional 19,500 shares during the period. Savvy Advisors Inc. bought a new stake in shares of Nordic American Tankers during the second quarter valued at about $81,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Nordic American Tankers by 74.7% in the second quarter. Envestnet Asset Management Inc. now owns 38,719 shares of the shipping company’s stock worth $102,000 after purchasing an additional 16,560 shares during the period. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Performance

Shares of NAT opened at $3.90 on Wednesday. The firm has a market cap of $824.77 million, a price-to-earnings ratio of 55.64 and a beta of -0.36. The company’s fifty day moving average is $3.43 and its 200-day moving average is $3.02. The company has a quick ratio of 2.04, a current ratio of 2.33 and a debt-to-equity ratio of 0.84. Nordic American Tankers Limited has a 12 month low of $2.13 and a 12 month high of $3.93.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%.The company had revenue of $40.15 million for the quarter, compared to the consensus estimate of $53.35 million. Equities analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, September 12th were given a dividend of $0.10 per share. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, September 12th. This represents a $0.40 annualized dividend and a dividend yield of 10.3%. Nordic American Tankers’s dividend payout ratio is 571.43%.

Analyst Upgrades and Downgrades

NAT has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Thursday, August 28th. Weiss Ratings restated a “hold (c)” rating on shares of Nordic American Tankers in a research report on Wednesday, October 8th. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Evercore ISI lifted their price objective on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.00.

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.