MQS Management LLC Sells 8,246 Shares of Nordic American Tankers Limited (NYSE:NAT)

MQS Management LLC reduced its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 27.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,962 shares of the shipping company’s stock after selling 8,246 shares during the period. MQS Management LLC’s holdings in Nordic American Tankers were worth $86,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Nordic American Tankers by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,296,248 shares of the shipping company’s stock worth $43,245,000 after purchasing an additional 162,870 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Nordic American Tankers by 3.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock worth $31,610,000 after purchasing an additional 221,478 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Nordic American Tankers by 3.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,047,454 shares of the shipping company’s stock worth $16,999,000 after purchasing an additional 152,166 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Nordic American Tankers by 19.6% in the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after acquiring an additional 275,707 shares during the period. Finally, Greylin Investment Management Inc increased its position in shares of Nordic American Tankers by 1.2% in the fourth quarter. Greylin Investment Management Inc now owns 1,121,360 shares of the shipping company’s stock valued at $4,710,000 after acquiring an additional 13,200 shares during the period. 44.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NAT has been the topic of a number of analyst reports. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Jefferies Financial Group decreased their price objective on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Nordic American Tankers currently has a consensus rating of “Moderate Buy” and an average target price of $5.17.

Nordic American Tankers Stock Performance

Nordic American Tankers stock traded down $0.02 during midday trading on Thursday, reaching $3.73. 1,776,288 shares of the company traded hands, compared to its average volume of 2,649,527. The firm has a market capitalization of $777.78 million, a price-to-earnings ratio of 11.64 and a beta of -0.17. The business has a 50 day moving average of $3.99 and a two-hundred day moving average of $4.06. Nordic American Tankers Limited has a 12 month low of $3.68 and a 12 month high of $4.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.60.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Wednesday, May 29th. The shipping company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The company had revenue of $60.57 million for the quarter, compared to the consensus estimate of $66.19 million. Nordic American Tankers had a net margin of 28.37% and a return on equity of 12.43%. As a group, research analysts predict that Nordic American Tankers Limited will post 0.41 earnings per share for the current year.

Nordic American Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Friday, June 28th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a yield of 12.89%. Nordic American Tankers’s dividend payout ratio is currently 150.00%.

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.