Moors & Cabot Inc. Trims Stock Position in Nordic American Tankers Limited (NYSE:NAT)

Moors & Cabot Inc. cut its holdings in Nordic American Tankers Limited (NYSE:NATFree Report) by 28.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,525 shares of the shipping company’s stock after selling 17,250 shares during the quarter. Moors & Cabot Inc.’s holdings in Nordic American Tankers were worth $175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NAT. ProShare Advisors LLC boosted its stake in Nordic American Tankers by 10.5% in the 2nd quarter. ProShare Advisors LLC now owns 26,707 shares of the shipping company’s stock worth $98,000 after purchasing an additional 2,546 shares in the last quarter. Signaturefd LLC boosted its stake in Nordic American Tankers by 40.1% in the 2nd quarter. Signaturefd LLC now owns 10,412 shares of the shipping company’s stock worth $38,000 after purchasing an additional 2,979 shares in the last quarter. FMR LLC boosted its stake in Nordic American Tankers by 29.1% in the 1st quarter. FMR LLC now owns 13,308 shares of the shipping company’s stock worth $53,000 after purchasing an additional 2,999 shares in the last quarter. MML Investors Services LLC boosted its stake in Nordic American Tankers by 9.1% in the 2nd quarter. MML Investors Services LLC now owns 37,555 shares of the shipping company’s stock worth $138,000 after purchasing an additional 3,139 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Nordic American Tankers by 3.2% in the 2nd quarter. MetLife Investment Management LLC now owns 108,482 shares of the shipping company’s stock worth $398,000 after purchasing an additional 3,358 shares in the last quarter. 42.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet cut shares of Nordic American Tankers from a “b-” rating to a “c+” rating in a research note on Monday.

Check Out Our Latest Research Report on Nordic American Tankers

Nordic American Tankers Price Performance

NAT opened at $4.19 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.50 and a current ratio of 1.81. The stock has a market capitalization of $874.87 million, a P/E ratio of 7.48 and a beta of -0.06. The company’s 50-day simple moving average is $4.26 and its two-hundred day simple moving average is $4.21. Nordic American Tankers Limited has a 52-week low of $3.21 and a 52-week high of $4.83.

Nordic American Tankers (NYSE:NATGet Free Report) last released its earnings results on Wednesday, November 29th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $48.04 million during the quarter, compared to analysts’ expectations of $53.04 million. Nordic American Tankers had a return on equity of 21.50% and a net margin of 42.78%. As a group, analysts predict that Nordic American Tankers Limited will post 0.53 EPS for the current year.

Nordic American Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Wednesday, December 20th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 5.73%. The ex-dividend date was Tuesday, December 19th. Nordic American Tankers’s dividend payout ratio is 42.86%.

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 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.

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Institutional Ownership by Quarter for Nordic American Tankers (NYSE:NAT)

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