Nordic American Tankers Limited (NYSE:NAT) Holdings Decreased by TrueMark Investments LLC

TrueMark Investments LLC lessened its stake in Nordic American Tankers Limited (NYSE:NAT) by 51.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 598,688 shares of the shipping company’s stock after selling 634,741 shares during the period. TrueMark Investments LLC owned 0.29% of Nordic American Tankers worth $1,497,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NAT. Sequoia Financial Advisors LLC bought a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $26,000. Avantax Advisory Services Inc. bought a new position in Nordic American Tankers during the 4th quarter valued at $33,000. Raymond James Trust N.A. acquired a new position in shares of Nordic American Tankers during the 3rd quarter valued at $37,000. AXQ Capital LP bought a new stake in shares of Nordic American Tankers in the 4th quarter worth $43,000. Finally, Flputnam Investment Management Co. acquired a new stake in shares of Nordic American Tankers in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NAT shares. StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Monday. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a report on Friday, February 28th.

Nordic American Tankers Trading Down 1.2 %

Shares of NYSE NAT opened at $2.55 on Wednesday. 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 12 month low of $2.39 and a 12 month high of $4.40. The company has a market cap of $532.43 million, a price-to-earnings ratio of 8.79 and a beta of -0.33. The business has a fifty day simple moving average of $2.63 and a 200-day simple moving average of $2.95.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $46.39 million for the quarter, compared to analysts’ expectations of $51.38 million. Sell-side analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 9.41%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 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.