Canada Pension Plan Investment Board Trims Holdings in Nordic American Tankers Limited (NYSE:NAT)

Canada Pension Plan Investment Board decreased its position in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 31.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 608,000 shares of the shipping company's stock after selling 285,000 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.29% of Nordic American Tankers worth $2,420,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Nordic American Tankers in the second quarter worth approximately $25,000. Diversify Advisory Services LLC purchased a new stake in shares of Nordic American Tankers during the 1st quarter worth $41,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Nordic American Tankers during the 1st quarter worth $45,000. SG Americas Securities LLC bought a new stake in Nordic American Tankers during the first quarter valued at about $47,000. Finally, Caprock Group LLC purchased a new position in Nordic American Tankers in the second quarter valued at about $55,000. Hedge funds and other institutional investors own 44.29% of the company's stock.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $3.63 on Friday. Nordic American Tankers Limited has a fifty-two week low of $3.31 and a fifty-two week high of $4.83. The company has a market cap of $756.89 million, a PE ratio of 11.33 and a beta of -0.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. The business has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $3.86.

Nordic American Tankers (NYSE:NAT - Get Free Report) last released its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The company had revenue of $66.10 million during the quarter, compared to analysts' expectations of $54.34 million. During the same period last year, the business earned $0.13 EPS. As a group, equities analysts expect that Nordic American Tankers Limited will post 0.38 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.24%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers's dividend payout ratio (DPR) is presently 150.00%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group reissued a "hold" rating and set a $4.00 price target on shares of Nordic American Tankers in a research report on Thursday, September 12th. Evercore ISI decreased their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an "in-line" rating for the company in a research report on Friday, August 30th. Finally, StockNews.com lowered shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Tuesday, August 13th.

Nordic American Tankers 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.