Nordic American Tankers vice chairman Alexander Hansson has added to his valuable stake in the tanker owner.
The New York-listed suezmax company, run by his father, Herbjorn, said the director bought 250,000 shares at $4.25 each for a total outlay of $1.06m.
Monaco-based Alexander now has 2.5m shares in NAT, a holding worth $10.2m.
The family is the largest private shareholder group in the company.
In November, Alexander had bought another 100,000 shares at $3.93 each.
Before that, Herbjorn added 50,000 shares at $4.08 each to bring his ownership to 4.25m shares.
The stock was up 1.5% in New York on Tuesday morning.
NAT shares started the year at $4.29.
The move comes after a fourth quarter in which the Sandefjord-based crude tanker owner reported a $17.5m profit, down from the $36m earned in the same period last year.
Revenue down
Revenue dipped to $59.3m from $71.1m year on year.
Time charter equivalent rates came in at $39,170 per day per ship, down from $49,035 in the final three months of 2022.
Herbjorn pointed out the full-year profit of $98.7m was more than six times 2022’s $15.1m profit.
The company’s market cap is about $854m.
NAT paid out its 106th consecutive dividend of $0.12 per share for the quarter, up from $0.06 per share in the third quarter and down from $0.15 in the fourth quarter of 2022.
