19,077 Shares in Nordic American Tankers Limited (NYSE:NAT) Acquired by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in Nordic American Tankers Limited (NYSE:NAT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 19,077 shares of the shipping company’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NAT. Sequoia Financial Advisors LLC purchased a new position in shares of Nordic American Tankers in the fourth quarter worth $26,000. Avantax Advisory Services Inc. bought a new stake in Nordic American Tankers in the 4th quarter worth $33,000. Raymond James Trust N.A. bought a new stake in Nordic American Tankers in the 3rd quarter worth $37,000. Flputnam Investment Management Co. purchased a new position in shares of Nordic American Tankers in the fourth quarter valued at about $45,000. Finally, Ballentine Partners LLC raised its stake in shares of Nordic American Tankers by 90.7% during the fourth quarter. Ballentine Partners LLC now owns 24,737 shares of the shipping company’s stock valued at $62,000 after acquiring an additional 11,767 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Down 1.0 %

NYSE:NAT opened at $2.54 on Friday. Nordic American Tankers Limited has a 12 month low of $2.39 and a 12 month high of $4.40. 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 50-day moving average price of $2.62 and a 200-day moving average price of $2.95. The stock has a market cap of $529.30 million, a price-to-earnings ratio of 8.74 and a beta of -0.33.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. Equities analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.47%. The ex-dividend date of this dividend was Monday, March 10th. Nordic American Tankers’s dividend payout ratio is 109.09%.

Analyst Upgrades and Downgrades

NAT has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research note on Friday, February 28th. StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Monday.

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.