Nordic American Tankers Limited $NAT Stake Lessened by Quantbot Technologies LP

Quantbot Technologies LP lessened its stake in Nordic American Tankers Limited (NYSE:NAT) by 90.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,522 shares of the shipping company’s stock after selling 294,738 shares during the period. Quantbot Technologies LP’s holdings in Nordic American Tankers were worth $75,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Red Door Wealth Management LLC bought a new stake in shares of Nordic American Tankers in the first quarter worth $39,000. Two Sigma Securities LLC bought a new stake in shares of Nordic American Tankers in the fourth quarter worth $49,000. Watts Gwilliam & Co. LLC bought a new stake in shares of Nordic American Tankers in the first quarter worth $49,000. PNC Financial Services Group Inc. increased its stake in shares of Nordic American Tankers by 312.3% in the first quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company’s stock worth $54,000 after buying an additional 16,644 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Nordic American Tankers by 34.0% in the first quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company’s stock worth $54,000 after buying an additional 5,605 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NAT shares. Jefferies Financial Group restated a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday. Wall Street Zen downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Nordic American Tankers has an average rating of “Hold” and an average target price of $3.00.

Nordic American Tankers Stock Performance

Nordic American Tankers stock opened at $3.12 on Friday. The company has a market cap of $659.60 million, a PE ratio of 44.50 and a beta of -0.22. The company has a fifty day moving average price of $2.80 and a two-hundred day moving average price of $2.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.54 and a quick ratio of 1.34. Nordic American Tankers Limited has a 12 month low of $2.13 and a 12 month high of $3.83.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Thursday, August 28th. The shipping company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Nordic American Tankers had a return on equity of 2.64% and a net margin of 7.58%.The business had revenue of $40.15 million during the quarter, compared to analyst estimates of $53.35 million. Research analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 12.8%. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, September 12th. Nordic American Tankers’s dividend payout ratio is presently 164.71%.

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.