Nordic American Tankers Limited (NYSE:NAT) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,708,936 shares of the shipping company’s stock after selling 316,889 shares during the quarter. American Century Companies Inc. owned about 2.26% of Nordic American Tankers worth $11,772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in NAT. Two Sigma Advisers LP increased its position in Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after buying an additional 1,521,900 shares during the period. Philip James Wealth Mangement LLC grew its position in shares of Nordic American Tankers by 8.8% during the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company’s stock worth $3,016,000 after acquiring an additional 97,819 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Nordic American Tankers by 834.7% in the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock worth $1,363,000 after acquiring an additional 486,710 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Nordic American Tankers by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock valued at $1,796,000 after purchasing an additional 7,382 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Nordic American Tankers by 1.1% during the 4th quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after purchasing an additional 5,439 shares during the period. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

Shares of NAT opened at $2.49 on Wednesday. Nordic American Tankers Limited has a 52-week low of $2.39 and a 52-week high of $4.40. The firm has a market capitalization of $518.86 million, a PE ratio of 8.57 and a beta of -0.33. The firm has a 50-day moving average price of $2.60 and a 200 day moving average price of $2.91. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $46.39 million for the quarter, compared to analyst estimates of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 9.66%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group restated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Friday, February 28th.

About Nordic American Tankers

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.