Tidal Investments LLC Decreases Stock Holdings in Nordic American Tankers Limited (NYSE:NAT)

Tidal Investments LLC lessened its stake in Nordic American Tankers Limited (NYSE:NAT) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,047 shares of the shipping company’s stock after selling 14,895 shares during the period. Tidal Investments LLC’s holdings in Nordic American Tankers were worth $334,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Nordic American Tankers by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 692,602 shares of the shipping company’s stock valued at $2,757,000 after buying an additional 67,009 shares during the period. TrueMark Investments LLC purchased a new position in shares of Nordic American Tankers during the 2nd quarter worth $4,373,000. Principal Financial Group Inc. grew its position in shares of Nordic American Tankers by 8.6% during the 2nd quarter. Principal Financial Group Inc. now owns 128,756 shares of the shipping company’s stock valued at $512,000 after acquiring an additional 10,171 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Nordic American Tankers by 30.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 308,463 shares of the shipping company’s stock worth $1,228,000 after purchasing an additional 72,139 shares in the last quarter. Finally, Caprock Group LLC bought a new position in Nordic American Tankers in the 2nd quarter worth $55,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

NYSE:NAT opened at $2.52 on Wednesday. The stock has a 50-day moving average price of $2.98 and a 200 day moving average price of $3.47. The stock has a market capitalization of $526.17 million, a P/E ratio of 8.69 and a beta of -0.26. Nordic American Tankers Limited has a 12-month low of $2.41 and a 12-month high of $4.64. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

Nordic American Tankers Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a yield of 19.05%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 55.17%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NAT shares. Evercore ISI cut their price target on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 29th.

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.