HTLF Bank Makes New $210,000 Investment in Nordic American Tankers Limited (NYSE:NAT)

HTLF Bank purchased a new stake in Nordic American Tankers Limited (NYSE:NAT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 50,000 shares of the shipping company’s stock, valued at approximately $210,000.

A number of other hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Nordic American Tankers by 77.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,327,573 shares of the shipping company’s stock valued at $25,057,000 after buying an additional 2,756,627 shares during the last quarter. Millennium Management LLC boosted its stake in Nordic American Tankers by 42.5% during the fourth quarter. Millennium Management LLC now owns 7,464,144 shares of the shipping company’s stock worth $22,840,000 after buying an additional 2,225,910 shares during the period. Goldman Sachs Group Inc. boosted its stake in Nordic American Tankers by 41.7% during the second quarter. Goldman Sachs Group Inc. now owns 7,525,850 shares of the shipping company’s stock worth $27,620,000 after buying an additional 2,214,790 shares during the period. Two Sigma Advisers LP purchased a new position in Nordic American Tankers during the third quarter worth about $4,993,000. Finally, Marshall Wace LLP boosted its stake in Nordic American Tankers by 21.6% during the second quarter. Marshall Wace LLP now owns 5,363,400 shares of the shipping company’s stock worth $19,684,000 after buying an additional 952,534 shares during the period. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NAT has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $5.50 target price on shares of Nordic American Tankers in a research note on Thursday, February 29th. Evercore ISI lowered their target price on shares of Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating for the company in a research note on Thursday, February 29th. Finally, TheStreet lowered shares of Nordic American Tankers from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.33.

Nordic American Tankers Trading Up 0.8 %

NYSE NAT opened at $3.80 on Friday. The firm has a 50 day simple moving average of $4.02 and a 200-day simple moving average of $4.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.55. Nordic American Tankers Limited has a one year low of $3.26 and a one year high of $4.83. The firm has a market cap of $793.44 million, a price-to-earnings ratio of 8.09 and a beta of -0.10.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Friday, March 1st. The shipping company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.06). The business had revenue of $59.25 million during the quarter, compared to analysts’ expectations of $68.90 million. Nordic American Tankers had a net margin of 37.65% and a return on equity of 18.12%. During the same period in the previous year, the business posted $0.17 EPS. Equities research analysts anticipate that Nordic American Tankers Limited will post 0.6 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th were issued a $0.12 dividend. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, March 19th. This represents a $0.48 annualized dividend and a yield of 12.63%. Nordic American Tankers’s dividend payout ratio (DPR) is 102.13%.

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 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.