Nuveen Asset Management LLC decreased its holdings in Nordic American Tankers Limited (NYSE:NAT - Free Report) by 71.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524,957 shares of the shipping company's stock after selling 1,291,537 shares during the quarter. Nuveen Asset Management LLC owned about 0.25% of Nordic American Tankers worth $1,312,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in Nordic American Tankers during the 4th quarter worth $26,000. Summit Financial LLC purchased a new position in Nordic American Tankers during the 4th quarter worth $32,000. Avantax Advisory Services Inc. purchased a new position in Nordic American Tankers during the 4th quarter worth $33,000. AXQ Capital LP purchased a new position in Nordic American Tankers during the 4th quarter worth $43,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Nordic American Tankers during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 44.29% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on NAT shares. Jefferies Financial Group restated a "hold" rating and set a $3.00 price objective on shares of Nordic American Tankers in a research report on Thursday, May 29th. Wall Street Zen cut shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Friday, May 30th.
Check Out Our Latest Analysis on NAT
Nordic American Tankers Price Performance
Shares of NAT traded down $0.01 during trading hours on Friday, reaching $2.75. The company had a trading volume of 2,344,852 shares, compared to its average volume of 2,537,855. The firm has a 50 day simple moving average of $2.56 and a 200-day simple moving average of $2.61. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $582.32 million, a price-to-earnings ratio of 9.48 and a beta of -0.20. Nordic American Tankers Limited has a 12-month low of $2.13 and a 12-month high of $4.23.
Nordic American Tankers Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 10.18%. This is a boost from Nordic American Tankers's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, June 12th. Nordic American Tankers's dividend payout ratio is presently 127.27%.
About Nordic American Tankers
(
Free Report)
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.
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