Northern Trust Corp Cuts Position in Nordic American Tankers Limited (NYSE:NAT)

Northern Trust Corp decreased its holdings in Nordic American Tankers Limited (NYSE:NAT) by 36.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,179,334 shares of the shipping company’s stock after selling 682,954 shares during the quarter. Northern Trust Corp’s holdings in Nordic American Tankers were worth $3,832,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new position in Nordic American Tankers in the first quarter worth $43,000. Schroder Investment Management Group raised its position in Nordic American Tankers by 194.1% in the fourth quarter. Schroder Investment Management Group now owns 1,088,693 shares of the shipping company’s stock worth $3,212,000 after acquiring an additional 718,460 shares in the last quarter. Credit Suisse AG raised its position in Nordic American Tankers by 9.5% in the fourth quarter. Credit Suisse AG now owns 42,450 shares of the shipping company’s stock worth $125,000 after acquiring an additional 3,671 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Nordic American Tankers in the fourth quarter worth $64,000. Finally, Stonebridge Capital Management Inc. increased its position in shares of Nordic American Tankers by 90.9% in the first quarter. Stonebridge Capital Management Inc. now owns 21,000 shares of the shipping company’s stock valued at $68,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 30.38% of the company’s stock.

Shares of NAT stock opened at $2.79 on Thursday. Nordic American Tankers Limited has a fifty-two week low of $2.59 and a fifty-two week high of $4.78. The stock has a market capitalization of $422.53 million, a PE ratio of -31.00 and a beta of 0.60. The firm has a fifty day moving average price of $3.31. The company has a current ratio of 2.12, a quick ratio of 1.56 and a debt-to-equity ratio of 0.57.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Monday, May 24th. The shipping company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The business had revenue of $18.81 million for the quarter, compared to analyst estimates of $20.47 million. Nordic American Tankers had a negative return on equity of 2.38% and a negative net margin of 8.75%. Analysts forecast that Nordic American Tankers Limited will post -0.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 18th. Investors of record on Friday, June 4th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, June 3rd. Nordic American Tankers’s payout ratio is currently 23.53%.

NAT has been the subject of a number of research analyst reports. HC Wainwright restated a “hold” rating and issued a $3.75 price target on shares of Nordic American Tankers in a research report on Wednesday, May 26th. Zacks Investment Research upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, May 29th.

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 25 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

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Institutional Ownership by Quarter for Nordic American Tankers (NYSE:NAT)

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