Arrowstreet Capital Limited Partnership Sells 116,270 Shares of Nordic American Tankers Limited (NYSE:NAT)

Arrowstreet Capital Limited Partnership reduced its stake in Nordic American Tankers Limited (NYSE:NAT - Free Report) by 66.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,084 shares of the shipping company's stock after selling 116,270 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Nordic American Tankers were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NAT. Sequoia Financial Advisors LLC purchased a new stake in shares of Nordic American Tankers in the fourth quarter valued at $26,000. Avantax Advisory Services Inc. purchased a new position in Nordic American Tankers during the 4th quarter valued at about $33,000. AXQ Capital LP acquired a new position in shares of Nordic American Tankers in the 4th quarter valued at about $43,000. Flputnam Investment Management Co. acquired a new stake in shares of Nordic American Tankers during the fourth quarter worth approximately $45,000. Finally, Xponance Inc. grew its position in Nordic American Tankers by 41.4% during the fourth 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. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Performance

Shares of NYSE NAT traded up $0.08 during trading hours on Friday, hitting $2.52. 2,582,121 shares of the stock were exchanged, compared to its average volume of 2,540,708. Nordic American Tankers Limited has a one year low of $2.13 and a one year high of $4.40. The company's 50 day moving average is $2.51 and its 200 day moving average is $2.80. 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 firm has a market capitalization of $525.13 million, a P/E ratio of 8.67 and a beta of 0.02.

Nordic American Tankers (NYSE:NAT - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). The firm had revenue of $46.39 million for the quarter, compared to the consensus estimate of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. On average, research analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

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

Wall Street Analyst Weigh In

NAT has been the subject of a number of research reports. StockNews.com lowered shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Wednesday, April 9th. Jefferies Financial Group reissued a "hold" rating and set a $3.00 price objective on shares of Nordic American Tankers in a research 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.