Quadrant Capital Group LLC Buys 8,884 Shares of Nordic American Tankers Limited (NYSE:NAT)

Quadrant Capital Group LLC raised its position in Nordic American Tankers Limited (NYSE:NAT) by 41.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,238 shares of the shipping company’s stock after purchasing an additional 8,884 shares during the period. Quadrant Capital Group LLC’s holdings in Nordic American Tankers were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in Nordic American Tankers by 141.4% during the fourth quarter. Russell Investments Group Ltd. now owns 20,011 shares of the shipping company’s stock valued at $50,000 after buying an additional 11,722 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nordic American Tankers in the 4th quarter valued at about $43,000. Wells Fargo & Company MN grew its stake in Nordic American Tankers by 6.2% in the 4th quarter. Wells Fargo & Company MN now owns 156,591 shares of the shipping company’s stock worth $391,000 after buying an additional 9,089 shares in the last quarter. KCM Investment Advisors LLC bought a new position in Nordic American Tankers in the fourth quarter valued at $64,000. Finally, Geode Capital Management LLC increased its position in shares of Nordic American Tankers by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,493,016 shares of the shipping company’s stock valued at $6,233,000 after purchasing an additional 22,615 shares during the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Price Performance

Shares of Nordic American Tankers stock opened at $2.34 on Friday. The stock has a market capitalization of $487.54 million, a P/E ratio of 8.05 and a beta of 0.02. Nordic American Tankers Limited has a one year low of $2.13 and a one year high of $4.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The business’s 50 day simple moving average is $2.54 and its two-hundred day simple moving average is $2.84.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share 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 firm had revenue of $46.39 million for the quarter, compared to analysts’ expectations of $51.38 million. Analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 10.28%. Nordic American Tankers’s dividend payout ratio is presently 109.09%.

Wall Street Analyst Weigh In

Several research analysts have commented on NAT shares. StockNews.com downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report 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.