Vanguard Group Inc. reduced its stake in Nordic American Tankers Limited (NYSE:NAT) by 17.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,810 shares of the shipping company’s stock after selling 98,741 shares during the quarter. Vanguard Group Inc. owned about 0.46% of Nordic American Tankers worth $2,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Northern Trust Corp boosted its holdings in Nordic American Tankers by 40.4% in the 2nd quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock worth $14,536,000 after buying an additional 659,827 shares during the period. Global X Management Co. LLC increased its holdings in Nordic American Tankers by 4.7% during the second quarter. Global X Management Co. LLC now owns 1,098,976 shares of the shipping company’s stock valued at $6,968,000 after buying an additional 49,761 shares during the period. Wells Fargo & Company MN increased its holdings in Nordic American Tankers by 19.0% during the second quarter. Wells Fargo & Company MN now owns 486,605 shares of the shipping company’s stock valued at $3,085,000 after buying an additional 77,822 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Nordic American Tankers by 46.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 435,285 shares of the shipping company’s stock valued at $2,760,000 after buying an additional 138,574 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Nordic American Tankers by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 343,384 shares of the shipping company’s stock valued at $2,176,000 after buying an additional 2,019 shares during the period. 23.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nordic American Tankers Limited (NYSE:NAT) traded down $0.03 during trading on Wednesday, hitting $3.86. 891,400 shares of the company traded hands, compared to its average volume of 1,170,682. The company has a current ratio of 4.69, a quick ratio of 3.87 and a debt-to-equity ratio of 0.52. Nordic American Tankers Limited has a 12-month low of $3.82 and a 12-month high of $9.95. The stock has a market capitalization of $396.58, a PE ratio of 97.25 and a beta of 0.88.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Monday, November 13th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.12 annualized dividend and a dividend yield of 3.11%.

Several equities analysts recently issued reports on NAT shares. Zacks Investment Research lowered shares of Nordic American Tankers from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 10th. Maxim Group reiterated a “sell” rating and set a $3.00 price objective (down from $4.00) on shares of Nordic American Tankers in a research note on Monday, October 23rd. Morgan Stanley lowered their price objective on shares of Nordic American Tankers from $6.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Finally, TheStreet downgraded shares of Nordic American Tankers from a “c-” rating to a “d+” rating in a research note on Thursday, August 10th. Four equities research 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 presently has a consensus rating of “Hold” and a consensus price target of $5.67.

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About Nordic American Tankers

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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

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