Fisher Asset Management LLC Acquires Shares of 20,489 Nordic American Tankers Limited (NYSE:NAT)

Fisher Asset Management LLC acquired a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 20,489 shares of the shipping company’s stock, valued at approximately $86,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NAT. Barclays PLC raised its position in shares of Nordic American Tankers by 88.5% during the 3rd quarter. Barclays PLC now owns 77,203 shares of the shipping company’s stock valued at $318,000 after buying an additional 36,245 shares in the last quarter. Rhumbline Advisers raised its position in shares of Nordic American Tankers by 112.9% during the 3rd quarter. Rhumbline Advisers now owns 662,435 shares of the shipping company’s stock valued at $2,729,000 after buying an additional 351,216 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Nordic American Tankers by 783.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 484,179 shares of the shipping company’s stock valued at $1,995,000 after buying an additional 429,396 shares in the last quarter. Gotham Asset Management LLC raised its position in Nordic American Tankers by 22.8% in the 3rd quarter. Gotham Asset Management LLC now owns 358,014 shares of the shipping company’s stock worth $1,475,000 after purchasing an additional 66,506 shares during the period. Finally, Bluefin Capital Management LLC raised its position in Nordic American Tankers by 94.7% in the 3rd quarter. Bluefin Capital Management LLC now owns 224,100 shares of the shipping company’s stock worth $923,000 after purchasing an additional 109,000 shares during the period. Institutional investors own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Evercore ISI reduced their target price on shares of Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating on the stock in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.17.

Nordic American Tankers Price Performance

Shares of NAT opened at $4.18 on Thursday. The company has a market cap of $871.74 million, a price-to-earnings ratio of 13.05 and a beta of -0.12. Nordic American Tankers Limited has a twelve month low of $3.45 and a twelve month high of $4.83. The company has a quick ratio of 0.60, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $4.05 and a two-hundred day moving average of $4.12.

Nordic American Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.48 annualized dividend and a yield of 11.50%. Nordic American Tankers’s dividend payout ratio (DPR) is 150.00%.

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.