Quantbot Technologies LP Raises Holdings in Nordic American Tankers Limited (NYSE:NAT)

Quantbot Technologies LP grew its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 57.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 325,260 shares of the shipping company’s stock after purchasing an additional 118,252 shares during the quarter. Quantbot Technologies LP’s holdings in Nordic American Tankers were worth $813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NAT. Barclays PLC increased its stake 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 in the last quarter. Victory Capital Management Inc. increased its position 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 acquiring an additional 486,710 shares during the period. Empowered Funds LLC purchased a new position in Nordic American Tankers in the 4th quarter worth $509,000. Philip James Wealth Mangement LLC lifted its position in Nordic American Tankers by 8.8% during the 4th 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 during the period. Finally, Rhumbline Advisers grew its stake in Nordic American Tankers by 1.1% during the 4th quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after purchasing an additional 5,439 shares during the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Monday. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Friday, February 28th.

Nordic American Tankers Price Performance

NYSE:NAT opened at $2.57 on Thursday. The firm’s fifty day moving average is $2.62 and its two-hundred day moving average is $2.95. The firm has a market cap of $535.56 million, a price-to-earnings ratio of 8.84 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 Limited has a one year low of $2.39 and a one year high of $4.40.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. Research analysts expect 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. Stockholders of record on Monday, March 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 9.36%. The ex-dividend date of this dividend was Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) 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.