Bank of New York Mellon Corp reduced its stake in shares of Nordic American Tanker Ltd (NYSE:NAT) by 26.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 443,780 shares of the shipping company’s stock after selling 156,838 shares during the quarter. Bank of New York Mellon Corp owned about 0.30% of Nordic American Tanker worth $1,801,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NAT. Pathstone Family Office LLC increased its holdings in shares of Nordic American Tanker by 2.7% during the 1st quarter. Pathstone Family Office LLC now owns 98,750 shares of the shipping company’s stock valued at $447,000 after acquiring an additional 2,609 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Nordic American Tanker by 4.3% during the 1st quarter. New York State Common Retirement Fund now owns 120,206 shares of the shipping company’s stock valued at $545,000 after purchasing an additional 5,006 shares during the period. GWM Advisors LLC boosted its stake in Nordic American Tanker by 60.3% during the 2nd quarter. GWM Advisors LLC now owns 19,400 shares of the shipping company’s stock valued at $79,000 after purchasing an additional 7,300 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Nordic American Tanker by 28.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 43,219 shares of the shipping company’s stock valued at $196,000 after purchasing an additional 9,545 shares during the period. Finally, Signet Financial Management LLC bought a new stake in Nordic American Tanker during the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 28.51% of the company’s stock.

NYSE NAT opened at $3.50 on Monday. The stock has a fifty day moving average of $4.13 and a 200-day moving average of $4.30. The stock has a market capitalization of $515.69 million, a P/E ratio of 5.93 and a beta of 0.42. Nordic American Tanker Ltd has a 52 week low of $2.04 and a 52 week high of $9.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.80.

Nordic American Tanker (NYSE:NAT) last released its earnings results on Monday, August 17th. The shipping company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Nordic American Tanker had a return on equity of 14.59% and a net margin of 32.35%. Equities research analysts forecast that Nordic American Tanker Ltd will post 0.66 earnings per share for the current fiscal year.

Several analysts recently weighed in on the company. TheStreet upgraded Nordic American Tanker from a “c” rating to a “b-” rating in a research note on Wednesday, September 9th. ValuEngine downgraded Nordic American Tanker from a “sell” rating to a “strong sell” rating in a research report on Monday, June 1st. Finally, Zacks Investment Research upgraded Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Nordic American Tanker currently has an average rating of “Hold” and a consensus target price of $4.75.

Nordic American Tanker Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

Further Reading: Support Level

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Institutional Ownership by Quarter for Nordic American Tanker (NYSE:NAT)

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