Wall St futures flat amid US-China trade jitters; bank earnings in focus
BERMUDA - Nordic American Tankers Limited (NYSE:NAT) announced Tuesday that Founder, Chairman and CEO Herbjørn Hansson has purchased 150,000 shares at $3.11 per share, increasing his personal holdings to 5,100,000 shares. The purchase comes as the stock has seen an 8% decline over the past week, according to InvestingPro data.
Following this transaction, Hansson’s family now owns a total of 10,250,000 shares, making them the largest private shareholder group in the company, according to the statement released by the tanker operator. The company currently maintains a market capitalization of approximately $660 million.
The company noted in its press release that it has maintained dividend payments for 113 consecutive quarters since becoming publicly listed in 1995. InvestingPro data shows the company currently offers a substantial 13% dividend yield, with a quarterly dividend of $0.40 per share.
Nordic American Tankers operates a fleet of Suezmax crude oil tankers. The company is headquartered in Bermuda and trades on the New York Stock Exchange.
The share purchase by the company’s top executive comes as insider transactions are often monitored by investors for potential signals about management’s confidence in a company’s outlook.
The information was disclosed in a company press release issued Tuesday.
In other recent news, Alexander Hansson, the Non-Executive Vice Chairman and Board member of Nordic American Tankers, has made a significant purchase of company shares. Hansson acquired 100,000 shares at a price of $3.27 per share. This transaction increases his personal holdings to 5,150,000 shares. The Hansson family, as a result, solidifies its status as the largest private shareholder group in the company, now holding a total of 10,100,000 shares. The purchase was disclosed in a company press release. These developments reflect ongoing activities within Nordic American Tankers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.