Price T Rowe Associates Inc. MD Increases Holdings in Nordic American Tankers Limited (NYSE:NAT)

Price T Rowe Associates Inc. MD grew its holdings in Nordic American Tankers Limited (NYSE:NAT) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,675 shares of the shipping company’s stock after acquiring an additional 10,814 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Nordic American Tankers were worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in NAT. Sequoia Financial Advisors LLC bought a new stake in shares of Nordic American Tankers in the fourth quarter worth about $26,000. Summit Financial LLC bought a new stake in Nordic American Tankers during the fourth quarter worth approximately $32,000. Avantax Advisory Services Inc. bought a new stake in Nordic American Tankers during the fourth quarter worth approximately $33,000. Dynamic Technology Lab Private Ltd bought a new stake in Nordic American Tankers during the fourth quarter worth approximately $43,000. Finally, AXQ Capital LP bought a new stake in Nordic American Tankers during the fourth quarter worth approximately $43,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NAT has been the topic of several analyst reports. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, April 9th. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Stock Up 1.3%

Shares of NYSE:NAT opened at $2.76 on Friday. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $4.40. The business has a 50 day simple moving average of $2.52 and a two-hundred day simple moving average of $2.66. The firm has a market capitalization of $583.37 million, a PE ratio of 9.50 and a beta of -0.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56.

Nordic American Tankers (NYSE:NAT) last announced its earnings results 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 net margin of 26.41% and a return on equity of 11.95%. The business had revenue of $46.39 million for the quarter, compared to analysts’ expectations of $51.38 million. On average, equities analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 8.71%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 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.