By otakuyassine3@gmail.com 
American Century Companies Inc. lessened its stake in shares of Nordic American Tankers Limited (NYSE:NAT – Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,708,936 shares of the shipping company’s stock after selling 316,889 shares during the period. American Century Companies Inc.’s holdings in Nordic American Tankers were worth $11,772,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of NAT. Barclays PLC lifted its holdings in shares of Nordic American Tankers by 274.8% during the third 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 last quarter. Victory Capital Management Inc. lifted its stake in Nordic American Tankers by 834.7% during the fourth 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 in the last quarter. Empowered Funds LLC acquired a new position in shares of Nordic American Tankers in the fourth quarter worth about $509,000. Philip James Wealth Mangement LLC increased its position in shares of Nordic American Tankers by 8.8% in the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company’s stock worth $3,016,000 after acquiring an additional 97,819 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Nordic American Tankers by 1.1% during the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after acquiring an additional 5,439 shares during the period. 44.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on NAT. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a report on Friday, February 28th.
Get Our Latest Report on Nordic American Tankers
Nordic American Tankers Stock Performance
Shares of NAT opened at $2.49 on Wednesday. Nordic American Tankers Limited has a 52 week low of $2.39 and a 52 week high of $4.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The company has a market capitalization of $518.86 million, a PE ratio of 8.57 and a beta of -0.33. The company’s 50 day moving average price is $2.60 and its 200 day moving average price is $2.91.
Nordic American Tankers (NYSE:NAT – Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The company had revenue of $46.39 million during the quarter, compared to analyst estimates of $51.38 million. Research analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.
Nordic American Tankers Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 9.66%. Nordic American Tankers’s dividend payout ratio is 109.09%.
Nordic American Tankers 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.
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