Los Angeles Capital Management LLC Makes New Investment in Nordic American Tankers Limited $NAT

Los Angeles Capital Management LLC bought a new position in shares of Nordic American Tankers Limited (NYSE:NAT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 28,435 shares of the shipping company’s stock, valued at approximately $75,000.

A number of other large investors have also made changes to their positions in NAT. Savant Capital LLC purchased a new stake in shares of Nordic American Tankers during the 2nd quarter worth approximately $28,000. Sequoia Financial Advisors LLC increased its position in shares of Nordic American Tankers by 33.7% in the second quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company’s stock valued at $42,000 after buying an additional 3,998 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new position in shares of Nordic American Tankers during the 1st quarter worth $49,000. PNC Financial Services Group Inc. raised its stake in shares of Nordic American Tankers by 312.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company’s stock worth $54,000 after buying an additional 16,644 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Nordic American Tankers by 34.0% in the 1st quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company’s stock worth $54,000 after buying an additional 5,605 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 2.0%

NYSE NAT opened at $3.90 on Wednesday. The company’s fifty day simple moving average is $3.43 and its 200-day simple moving average is $3.02. The stock has a market cap of $824.77 million, a P/E ratio of 55.64 and a beta of -0.36. Nordic American Tankers Limited has a 52 week low of $2.13 and a 52 week high of $3.93. The company has a current ratio of 2.33, a quick ratio of 2.04 and a debt-to-equity ratio of 0.84.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $40.15 million for the quarter, compared to analysts’ expectations of $53.35 million. Equities research analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, September 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 10.3%. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, September 12th. Nordic American Tankers’s payout ratio is 571.43%.

Wall Street Analysts Forecast Growth

NAT has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordic American Tankers in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday, August 28th. 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 upped their target price on Nordic American Tankers from $2.50 to $3.00 and gave the company 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 presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Nordic American Tankers 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.