TrueMark Investments LLC Has $1.50 Million Position in Nordic American Tankers Limited (NYSE:NAT)

TrueMark Investments LLC cut its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 51.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 598,688 shares of the shipping company’s stock after selling 634,741 shares during the period. TrueMark Investments LLC’s holdings in Nordic American Tankers were worth $1,497,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NAT. Rhumbline Advisers grew its holdings in shares of Nordic American Tankers by 1.1% during the 4th 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. Xponance Inc. boosted its position in Nordic American Tankers by 41.4% during the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 5,439 shares during the last quarter. SG Americas Securities LLC grew its stake in Nordic American Tankers by 8.4% in the fourth quarter. SG Americas Securities LLC now owns 75,107 shares of the shipping company’s stock valued at $188,000 after purchasing an additional 5,811 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Nordic American Tankers by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock worth $1,796,000 after purchasing an additional 7,382 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Nordic American Tankers during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

NAT has been the subject of several recent research reports. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price target 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 Monday.

Nordic American Tankers Price Performance

NYSE NAT opened at $2.55 on Wednesday. The firm has a market cap of $532.43 million, a P/E ratio of 8.79 and a beta of -0.33. The stock’s 50-day moving average is $2.63 and its two-hundred day moving average is $2.95. Nordic American Tankers Limited has a fifty-two week low of $2.39 and a fifty-two week 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.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data 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). The company had revenue of $46.39 million during the quarter, compared to the consensus estimate of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. On average, analysts anticipate that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Cuts Dividend

The company also recently disclosed 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. This represents a $0.24 annualized dividend and a dividend yield of 9.41%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s dividend payout ratio is currently 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.