Nordic American Tankers Limited (NYSE:NAT) Shares Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. increased its position in Nordic American Tankers Limited (NYSE:NAT) by 100.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 39,673 shares of the shipping company’s stock after acquiring an additional 19,847 shares during the period. Moors & Cabot Inc.’s holdings in Nordic American Tankers were worth $99,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Callan Family Office LLC acquired a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $91,000. Raymond James Financial Inc. acquired a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $94,000. Victory Capital Management Inc. raised its position in shares of Nordic American Tankers by 834.7% in 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 during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $93,000. Finally, Flputnam Investment Management Co. purchased a new stake in Nordic American Tankers in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a report on Friday, February 28th. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Sunday.

Nordic American Tankers Price Performance

Nordic American Tankers stock opened at $2.54 on Monday. Nordic American Tankers Limited has a 1 year low of $2.39 and a 1 year high of $4.40. The firm has a 50 day moving average price of $2.66 and a 200 day moving average price of $3.00. The company has a market cap of $529.30 million, a price-to-earnings ratio of 8.74 and a beta of -0.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73.

Nordic American Tankers (NYSE:NAT) last released 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 return on equity of 11.95% and a net margin of 26.41%. The business had revenue of $46.39 million during the quarter, compared to analyst estimates of $51.38 million. Sell-side analysts predict that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 9.47%. The ex-dividend date of this dividend is Monday, March 10th. Nordic American Tankers’s payout ratio is currently 109.09%.

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.