Ieq Capital LLC Invests $425,000 in Nordic American Tankers Limited $NAT

Ieq Capital LLC acquired a new stake in Nordic American Tankers Limited (NYSE:NAT) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 76,629 shares of the shipping company’s stock, valued at approximately $425,000.

A number of other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in Nordic American Tankers during the 2nd quarter worth approximately $32,000. Torren Management LLC acquired a new position in Nordic American Tankers during the fourth quarter valued at approximately $34,000. ROI Financial Advisors LLC acquired a new position in Nordic American Tankers during the fourth quarter valued at approximately $36,000. Parkside Financial Bank & Trust lifted its position in Nordic American Tankers by 2,800.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock valued at $37,000 after buying an additional 10,500 shares in the last quarter. Finally, Stokes Family Office LLC purchased a new stake in Nordic American Tankers during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

NYSE:NAT opened at $6.76 on Friday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 11.46 and a beta of -0.57. Nordic American Tankers Limited has a one year low of $3.00 and a one year high of $7.20. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00. The business’s 50-day simple moving average is $6.35 and its 200 day simple moving average is $5.77.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Thursday, August 27th. The shipping company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%.The firm had revenue of $79.30 million during the quarter, compared to analyst estimates of $84.18 million. As a group, sell-side analysts predict that Nordic American Tankers Limited will post 0.6 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 16.0%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, September 10th. Nordic American Tankers’s payout ratio is presently 325.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday. B. Riley Financial lifted their target price on shares of Nordic American Tankers from $7.50 to $8.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.33.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.