B. Riley Wealth Advisors Inc. Acquires 28,670 Shares of Nordic American Tankers Limited (NYSE:NAT)

B. Riley Wealth Advisors Inc. grew its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 178.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,694 shares of the shipping company’s stock after acquiring an additional 28,670 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Nordic American Tankers were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Nordic American Tankers during the second quarter valued at $25,000. Raymond James Trust N.A. purchased a new position in shares of Nordic American Tankers during the 3rd quarter valued at about $37,000. Bluefin Capital Management LLC bought a new position in shares of Nordic American Tankers during the 2nd quarter valued at approximately $47,000. Caprock Group LLC purchased a new stake in Nordic American Tankers in the 2nd quarter worth approximately $55,000. Finally, Ballentine Partners LLC bought a new stake in Nordic American Tankers during the 2nd quarter worth approximately $63,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on NAT. Evercore ISI dropped their price target on shares of 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 reaffirmed 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 report on Monday, December 2nd.

Nordic American Tankers Trading Down 1.2 %

Shares of NAT opened at $2.44 on Monday. The firm has a market cap of $509.46 million, a P/E ratio of 8.41 and a beta of -0.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers Limited has a 1 year low of $2.41 and a 1 year high of $4.64. The company has a 50 day simple moving average of $3.02 and a two-hundred day simple moving average of $3.49.

Nordic American Tankers Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be issued a $0.04 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a yield of 19.67%. Nordic American Tankers’s dividend payout ratio is currently 55.17%.

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.