State Board of Administration of Florida Retirement System boosted its position in Nordic American Tankers Ltd. (NYSE:NAT) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,084 shares of the company’s stock after buying an additional 200 shares during the period. State Board of Administration of Florida Retirement System owned about 0.10% of Nordic American Tankers worth $1,196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NAT. BlackRock Inc. increased its position in shares of Nordic American Tankers by 62.9% in the first quarter. BlackRock Inc. now owns 45,815 shares of the company’s stock worth $645,000 after buying an additional 17,697 shares during the period. Norges Bank bought a new stake in Nordic American Tankers during the fourth quarter valued at $11,307,000. Royal Bank of Canada raised its stake in Nordic American Tankers by 112.1% in the first quarter. Royal Bank of Canada now owns 166,478 shares of the company’s stock valued at $2,346,000 after buying an additional 87,999 shares in the last quarter. Teachers Advisors Inc. raised its stake in Nordic American Tankers by 5.2% in the first quarter. Teachers Advisors Inc. now owns 137,754 shares of the company’s stock valued at $1,941,000 after buying an additional 6,828 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Nordic American Tankers during the second quarter valued at $724,000. Hedge funds and other institutional investors own 32.97% of the company’s stock.

Shares of Nordic American Tankers Ltd. (NYSE:NAT) traded up 3.91% during mid-day trading on Wednesday, reaching $10.90. 1,285,755 shares of the company’s stock were exchanged. Nordic American Tankers Ltd. has a one year low of $9.94 and a one year high of $17.02. The stock has a 50-day moving average of $11.00 and a 200 day moving average of $13.47. The firm has a market capitalization of $973.58 million, a P/E ratio of 9.90 and a beta of 1.21.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Nordic American Tankers had a return on equity of 11.28% and a net margin of 34.79%. During the same quarter last year, the firm earned $0.35 earnings per share. On average, analysts forecast that Nordic American Tankers Ltd. will post $0.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.17%. The ex-dividend date was Monday, August 15th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 90.09%.

Several research firms have recently weighed in on NAT. Zacks Investment Research lowered shares of Nordic American Tankers from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Vetr lowered shares of Nordic American Tankers from a “sell” rating to a “strong sell” rating and set a $14.14 price objective for the company. in a research note on Thursday, June 9th. Jefferies Group set a $8.00 price objective on shares of Nordic American Tankers and gave the company an “underperform” rating in a research note on Wednesday, July 27th. Finally, ABN Amro lowered shares of Nordic American Tankers from a “buy” rating to a “sell” rating in a research note on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $13.16.

About Nordic American Tankers

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.

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