Martingale Asset Management L P Sells 15,605 Shares of Nordic American Tankers Limited (NYSE:NAT)

Martingale Asset Management L P cut its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,500 shares of the shipping company’s stock after selling 15,605 shares during the period. Martingale Asset Management L P owned approximately 0.10% of Nordic American Tankers worth $504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NAT. Sequoia Financial Advisors LLC bought a new stake in Nordic American Tankers during the 4th quarter worth approximately $26,000. Summit Financial LLC purchased a new position in shares of Nordic American Tankers during the fourth quarter valued at approximately $32,000. Avantax Advisory Services Inc. bought a new stake in Nordic American Tankers during the fourth quarter worth $33,000. Dynamic Technology Lab Private Ltd purchased a new stake in Nordic American Tankers in the 4th quarter valued at $43,000. Finally, AXQ Capital LP bought a new position in Nordic American Tankers during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Stock Up 8.3 %

NAT stock opened at $2.54 on Monday. The stock has a market cap of $529.31 million, a P/E ratio of 8.74 and a beta of 0.02. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $2.83. Nordic American Tankers Limited has a 1-year low of $2.13 and a 1-year high of $4.40.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The company had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $51.38 million. Analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid 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 9.47%. Nordic American Tankers’s payout ratio is currently 109.09%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research note on Friday, February 28th. StockNews.com downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, April 9th.

About Nordic American Tankers

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.