Today, Quantbot Technologies LP Buys New Position in Nordic American Tankers Ltd. (NAT)

Today, Quantbot Technologies LP Buys New Position in Nordic American Tankers Ltd. (NAT)

Quantbot Technologies LP acquired a new position in shares of Nordic American Tankers Ltd. (NYSE:NAT) during the third quarter, according to its most recent filing with the SEC. The firm acquired 15,363 shares of the company’s stock, valued at approximately $155,000.

A number of other large investors have also modified their holdings of the stock. MSI Financial Services Inc boosted its stake in shares of Nordic American Tankers by 1.3% in the third quarter. MSI Financial Services Inc now owns 10,530 shares of the company’s stock worth $106,000 after buying an additional 134 shares during the last quarter. Mission Wealth Management LLC acquired a new stake in shares of Nordic American Tankers during the second quarter worth approximately $139,000. Paloma Partners Management Co acquired a new stake in shares of Nordic American Tankers during the second quarter worth approximately $141,000. Stevens Capital Management LP acquired a new stake in shares of Nordic American Tankers during the second quarter worth approximately $142,000. Finally, BB&T Securities LLC acquired a new stake in shares of Nordic American Tankers during the second quarter worth approximately $144,000. 31.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nordic American Tankers Ltd. (NYSE:NAT) traded down 0.55% on Friday, hitting $9.06. 821,790 shares of the stock traded hands. Nordic American Tankers Ltd. has a one year low of $7.57 and a one year high of $16.18. The stock has a market cap of $923.84 million, a price-to-earnings ratio of 12.48 and a beta of 1.29. The company’s 50 day moving average is $8.94 and its 200 day moving average is $11.75.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. Nordic American Tankers had a net margin of 24.79% and a return on equity of 7.34%. During the same quarter in the previous year, the company earned $0.29 EPS. On average, equities analysts forecast that Nordic American Tankers Ltd. will post $0.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were paid a dividend of $0.26 per share. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 11.48%. The ex-dividend date of this dividend was Tuesday, October 25th. Nordic American Tankers’s payout ratio is currently 140.54%.

A number of brokerages recently commented on NAT. Wells Fargo & Co. began coverage on shares of Nordic American Tankers in a research note on Wednesday, November 16th. They issued a “market perform” rating on the stock. Zacks Investment Research cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, September 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $9.00 price target (down from $12.00) on shares of Nordic American Tankers in a research note on Friday, August 26th. Jefferies Group reaffirmed a “sell” rating on shares of Nordic American Tankers in a research note on Monday, September 12th. Finally, TheStreet cut shares of Nordic American Tankers from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. Nordic American Tankers presently has a consensus rating of “Hold” and a consensus price target of $11.69.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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