Dimensional Fund Advisors LP trimmed its stake in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,951,262 shares of the shipping company's stock after selling 180,163 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.72% of Nordic American Tankers worth $29,877,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in NAT. Victory Capital Management Inc. boosted its holdings in shares of Nordic American Tankers by 834.7% in the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company's stock valued at $1,363,000 after buying an additional 486,710 shares during the period. Norges Bank bought a new position in shares of Nordic American Tankers during the fourth quarter valued at approximately $1,202,000. Renaissance Technologies LLC raised its position in shares of Nordic American Tankers by 68.8% during the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company's stock worth $2,445,000 after purchasing an additional 398,700 shares during the period. Empowered Funds LLC bought a new stake in shares of Nordic American Tankers in the 4th quarter worth approximately $509,000. Finally, Barclays PLC boosted its position in Nordic American Tankers by 274.8% during the 3rd quarter. Barclays PLC now owns 268,115 shares of the shipping company's stock valued at $984,000 after purchasing an additional 196,571 shares during the period. 44.29% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on NAT shares. Jefferies Financial Group reiterated a "hold" rating and issued a $3.00 price objective on shares of Nordic American Tankers in a research report on Friday, February 28th. StockNews.com downgraded Nordic American Tankers from a "hold" rating to a "sell" rating in a research report on Wednesday, April 9th.
View Our Latest Stock Report on Nordic American Tankers
Nordic American Tankers Stock Performance
NAT stock opened at $2.67 on Tuesday. The company has a 50-day simple moving average of $2.49 and a 200 day simple moving average of $2.70. The company has a market capitalization of $556.45 million, a P/E ratio of 9.19 and a beta of 0.02. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. Nordic American Tankers Limited has a fifty-two week low of $2.13 and a fifty-two week high of $4.40.
Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The company had revenue of $46.39 million during the quarter, compared to the consensus estimate of $51.38 million. Sell-side analysts predict that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.
Nordic American Tankers Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.01%. The ex-dividend date was Monday, March 10th. Nordic American Tankers's dividend payout ratio is presently 109.09%.
Nordic American Tankers Company Profile
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Nordic American Tankers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nordic American Tankers wasn't on the list.
While Nordic American Tankers currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
