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

Moors & Cabot Inc. grew its position in Nordic American Tankers Limited (NYSE:NAT) by 100.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,673 shares of the shipping company’s stock after acquiring an additional 19,847 shares during the period. Moors & Cabot Inc.’s holdings in Nordic American Tankers were worth $99,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Nordic American Tankers by 274.8% in the third quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock valued at $984,000 after acquiring an additional 196,571 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Nordic American Tankers in the fourth quarter valued at about $509,000. Philip James Wealth Mangement LLC boosted its holdings in shares of Nordic American Tankers by 8.8% in the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company’s stock valued at $3,016,000 after acquiring an additional 97,819 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Nordic American Tankers by 1.1% in the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after acquiring an additional 5,439 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Nordic American Tankers by 46.0% in the third quarter. MML Investors Services LLC now owns 86,357 shares of the shipping company’s stock valued at $317,000 after acquiring an additional 27,210 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Up 3.0 %

Shares of NYSE NAT opened at $2.54 on Monday. 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 52 week low of $2.39 and a 52 week high of $4.40. The firm has a 50-day moving average price of $2.66 and a 200 day moving average price of $3.00. The stock has a market capitalization of $529.30 million, a price-to-earnings ratio of 8.74 and a beta of -0.33.

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 analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $46.39 million for the quarter, compared to analyst estimates of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. Equities research analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 9.47%. The ex-dividend date is Monday, March 10th. Nordic American Tankers’s payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NAT shares. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Sunday. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a research note on Friday, February 28th.

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.