Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Nordic American Tankers Limited $NAT

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Nordic American Tankers Limited (NYSE:NAT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,137,587 shares of the shipping company’s stock, valued at approximately $6,302,000.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Nordic American Tankers by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company’s stock valued at $71,430,000 after buying an additional 460,555 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Nordic American Tankers in the first quarter worth approximately $4,377,000. Quantbot Technologies LP bought a new stake in shares of Nordic American Tankers during the 2nd quarter worth approximately $1,692,000. Simcoe Capital LLC bought a new stake in shares of Nordic American Tankers during the 4th quarter worth approximately $3,522,000. Finally, GSA Capital Partners LLP lifted its stake in shares of Nordic American Tankers by 44.5% during the 2nd quarter. GSA Capital Partners LLP now owns 241,337 shares of the shipping company’s stock worth $1,337,000 after acquiring an additional 74,358 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 3.5%

NYSE NAT opened at $6.75 on Friday. The stock has a market cap of $1.43 billion, a PE ratio of 24.99 and a beta of -0.57. Nordic American Tankers Limited has a 12 month low of $2.96 and a 12 month high of $7.20. The company’s 50-day moving average price is $6.33 and its 200-day moving average price is $5.76. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $77.51 million during the quarter, compared to analyst estimates of $81.86 million. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. Equities research analysts forecast that Nordic American Tankers Limited will post 0.58 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a $0.27 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.08 dividend on an annualized basis and a yield of 16.0%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.22. Nordic American Tankers’s payout ratio is currently 325.93%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $4.00.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.