Two Sigma Advisers LP Raises Stake in Nordic American Tankers Limited (NYSE:NAT)

Two Sigma Advisers LP boosted its stake in Nordic American Tankers Limited (NYSE:NAT - Free Report) by 67.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,774,100 shares of the shipping company's stock after purchasing an additional 1,521,900 shares during the quarter. Two Sigma Advisers LP owned about 1.81% of Nordic American Tankers worth $13,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NAT. B. Riley Wealth Advisors Inc. grew its holdings in shares of Nordic American Tankers by 50.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company's stock valued at $66,000 after purchasing an additional 5,347 shares in the last quarter. Headlands Technologies LLC bought a new position in Nordic American Tankers during the second quarter valued at $25,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Nordic American Tankers by 26.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company's stock worth $122,000 after buying an additional 6,940 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Nordic American Tankers by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company's stock worth $1,796,000 after buying an additional 7,382 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Nordic American Tankers by 9.1% during the 2nd quarter. Sei Investments Co. now owns 91,791 shares of the shipping company's stock valued at $365,000 after buying an additional 7,663 shares in the last quarter. Institutional investors own 44.29% of the company's stock.

Nordic American Tankers Trading Down 0.6 %

NYSE:NAT traded down $0.02 during mid-day trading on Monday, hitting $2.67. 2,523,467 shares of the stock traded hands, compared to its average volume of 2,542,022. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. Nordic American Tankers Limited has a 52 week low of $2.60 and a 52 week high of $4.64. The stock has a market capitalization of $556.45 million, a price-to-earnings ratio of 9.24 and a beta of -0.26. The firm's 50 day moving average is $3.25 and its two-hundred day moving average is $3.60.

Nordic American Tankers Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 18.01%. Nordic American Tankers's dividend payout ratio is 165.52%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NAT. Evercore ISI dropped their price target on Nordic American Tankers from $4.50 to $4.00 and set an "in-line" rating for the company in a research report on Friday, August 30th. Jefferies Financial Group reiterated a "hold" rating and issued a $3.50 target price on shares of Nordic American Tankers in a report on Friday, November 29th. Finally, StockNews.com raised Nordic American Tankers from a "sell" rating to a "hold" rating in a research report on Monday, December 2nd.

Nordic American Tankers Company 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.