UBS Group AG decreased its holdings in Nordic American Tankers Limited (NYSE:NAT – Free Report) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,929,342 shares of the shipping company’s stock after selling 348,488 shares during the period. UBS Group AG owned about 0.91% of Nordic American Tankers worth $6,637,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in NAT. BlueStem Wealth Partners LLC acquired a new position in shares of Nordic American Tankers during the 3rd quarter worth approximately $32,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Nordic American Tankers during the 3rd quarter valued at $32,000. Farther Finance Advisors LLC boosted its position in Nordic American Tankers by 99.3% during the fourth quarter. Farther Finance Advisors LLC now owns 11,294 shares of the shipping company’s stock worth $39,000 after purchasing an additional 5,626 shares during the period. Belpointe Asset Management LLC acquired a new position in shares of Nordic American Tankers in the third quarter valued at $37,000. Finally, Fortis Capital Advisors LLC acquired a new position in shares of Nordic American Tankers in the third quarter valued at $37,000. 44.29% of the stock is owned by institutional investors and hedge funds.
Nordic American Tankers Price Performance
Shares of NYSE NAT opened at $5.52 on Wednesday. The firm has a market cap of $1.17 billion, a P/E ratio of 78.93 and a beta of -0.54. The business’s 50 day moving average is $5.66 and its 200-day moving average is $4.60. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.87. Nordic American Tankers Limited has a 1-year low of $2.55 and a 1-year high of $6.34.
Nordic American Tankers Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 12.3%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, March 10th. Nordic American Tankers’s dividend payout ratio is currently 971.43%.
Wall Street Analyst Weigh In
Separately, Evercore cut shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price for the company. in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nordic American Tankers currently has a consensus rating of “Reduce” and a consensus target price of $4.00.
Check Out Our Latest Analysis on NAT
About Nordic American Tankers
Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.
Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.
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