Bridgeway Capital Management LLC Acquires New Shares in Nordic American Tankers Limited (NYSE:NAT)

Bridgeway Capital Management LLC bought a new position in Nordic American Tankers Limited (NYSE:NAT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 828,717 shares of the shipping company’s stock, valued at approximately $2,072,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in shares of Nordic American Tankers by 834.7% in the fourth quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock worth $1,363,000 after buying an additional 486,710 shares in the last quarter. Norges Bank purchased a new stake in Nordic American Tankers in the 4th quarter worth approximately $1,202,000. Renaissance Technologies LLC boosted its holdings in Nordic American Tankers by 68.8% in the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock valued at $2,445,000 after purchasing an additional 398,700 shares during the period. Empowered Funds LLC bought a new position in Nordic American Tankers in the 4th quarter valued at $509,000. Finally, Barclays PLC grew its position in shares of Nordic American Tankers by 274.8% during the 3rd quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock valued at $984,000 after purchasing an additional 196,571 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

NAT has been the subject of several research analyst reports. StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, April 9th. Jefferies Financial Group reiterated a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Friday, February 28th.

Nordic American Tankers Stock Performance

NYSE NAT opened at $2.60 on Friday. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $4.40. The company has a fifty day moving average of $2.50 and a 200-day moving average of $2.68. The company has a market capitalization of $550.55 million, a P/E ratio of 8.97 and a beta of -0.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73.

Nordic American Tankers (NYSE:NAT) last issued its quarterly 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 firm had revenue of $46.39 million for the quarter, compared to the consensus estimate of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. As a group, equities research analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s payout ratio is currently 109.09%.

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.