Victory Capital Management Inc. Increases Stock Holdings in Nordic American Tankers Limited (NYSE:NAT)

Victory Capital Management Inc. grew its stake in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 834.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 545,019 shares of the shipping company's stock after purchasing an additional 486,710 shares during the quarter. Victory Capital Management Inc. owned approximately 0.26% of Nordic American Tankers worth $1,363,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Nordic American Tankers during the fourth quarter valued at approximately $93,000. Flputnam Investment Management Co. purchased a new stake in shares of Nordic American Tankers in the fourth quarter worth $45,000. Philip James Wealth Mangement LLC boosted its position in shares of Nordic American Tankers by 8.8% during the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company's stock valued at $3,016,000 after buying an additional 97,819 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Nordic American Tankers by 1.1% during the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company's stock valued at $1,209,000 after buying an additional 5,439 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Nordic American Tankers during the fourth quarter valued at $509,000. Hedge funds and other institutional investors own 44.29% of the company's stock.

Nordic American Tankers Price Performance

NAT traded down $0.09 on Friday, hitting $2.56. 5,308,592 shares of the company's stock traded hands, compared to its average volume of 2,459,360. The company's 50 day simple moving average is $2.65 and its 200-day simple moving average is $2.98. The firm has a market cap of $533.47 million, a price-to-earnings ratio of 8.81 and a beta of -0.33. Nordic American Tankers Limited has a one year low of $2.39 and a one year high of $4.40. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

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Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $46.39 million for the quarter, compared to the consensus estimate of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. As a group, research analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 9.39%. The ex-dividend date of this dividend is Monday, March 10th. Nordic American Tankers's payout ratio is 109.09%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NAT shares. StockNews.com raised Nordic American Tankers from a "sell" rating to a "hold" rating in a research report on Sunday, March 16th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.00 price objective on shares of Nordic American Tankers in a research note on Friday, February 28th.

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.