TrueMark Investments LLC Sells 634,741 Shares of Nordic American Tankers Limited (NYSE:NAT)

TrueMark Investments LLC trimmed its holdings in Nordic American Tankers Limited (NYSE:NAT - Free Report) by 51.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 598,688 shares of the shipping company's stock after selling 634,741 shares during the period. TrueMark Investments LLC owned 0.29% of Nordic American Tankers worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NAT. Barclays PLC increased its stake in Nordic American Tankers by 274.8% during the 3rd quarter. Barclays PLC now owns 268,115 shares of the shipping company's stock worth $984,000 after acquiring an additional 196,571 shares during the period. Victory Capital Management Inc. increased its position in shares of Nordic American Tankers by 834.7% in the fourth quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company's stock worth $1,363,000 after purchasing an additional 486,710 shares during the period. Empowered Funds LLC bought a new position in shares of Nordic American Tankers in the fourth quarter worth $509,000. Philip James Wealth Mangement LLC raised its stake in Nordic American Tankers by 8.8% in the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company's stock valued at $3,016,000 after purchasing an additional 97,819 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Nordic American Tankers by 1.1% during the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company's stock worth $1,209,000 after purchasing an additional 5,439 shares during the period. 44.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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 report on Friday, February 28th. StockNews.com cut shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Monday, March 24th.

Nordic American Tankers Price Performance

Shares of NAT stock traded down $0.02 on Friday, hitting $2.52. 2,376,118 shares of the company's stock were exchanged, compared to its average volume of 2,507,992. Nordic American Tankers Limited has a 12 month low of $2.39 and a 12 month high of $4.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The company has a 50 day moving average of $2.61 and a 200 day moving average of $2.93. The stock has a market cap of $525.12 million, a P/E ratio of 8.67 and a beta of -0.33.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted 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). The company had revenue of $46.39 million during the quarter, compared to the consensus estimate of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. On average, equities research analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.06 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 9.54%. Nordic American Tankers's dividend payout ratio is currently 109.09%.

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.