Quantbot Technologies LP Acquires 118,252 Shares of Nordic American Tankers Limited (NYSE:NAT)

Quantbot Technologies LP lifted its stake in Nordic American Tankers Limited (NYSE:NAT) by 57.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 325,260 shares of the shipping company’s stock after purchasing an additional 118,252 shares during the period. Quantbot Technologies LP owned about 0.16% of Nordic American Tankers worth $813,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Trust N.A. bought a new position in Nordic American Tankers in the 3rd quarter worth about $37,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Nordic American Tankers in the fourth quarter valued at approximately $26,000. Avantax Advisory Services Inc. bought a new position in Nordic American Tankers in the fourth quarter worth approximately $33,000. Flputnam Investment Management Co. purchased a new position in Nordic American Tankers during the 4th quarter worth $45,000. Finally, Xponance Inc. raised its position in Nordic American Tankers by 41.4% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 1.0 %

Shares of NYSE:NAT opened at $2.57 on Thursday. 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 company has a market capitalization of $535.56 million, a PE ratio of 8.84 and a beta of -0.33. Nordic American Tankers Limited has a 12-month low of $2.39 and a 12-month high of $4.40. The business’s fifty day simple moving average is $2.62 and its 200-day simple moving average is $2.95.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS 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 firm had revenue of $46.39 million during the quarter, compared to the consensus estimate of $51.38 million. As a group, equities research analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 9.36%. The ex-dividend date of this dividend was Monday, March 10th. Nordic American Tankers’s dividend payout ratio is currently 109.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NAT. StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Monday. Jefferies Financial Group restated a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a report on Friday, February 28th.

Nordic American Tankers Company 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.