Canada Pension Plan Investment Board reduced its stake in Nordic American Tankers Limited (NYSE:NAT – Free Report) by 31.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund 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 reporting period.
A number of other large investors have also recently added to or reduced their stakes in NAT. Headlands Technologies LLC acquired a new stake in shares of Nordic American Tankers in the second quarter worth $25,000. Diversify Advisory Services LLC acquired a new position in Nordic American Tankers during the 1st quarter worth $41,000. B. Riley Wealth Advisors Inc. bought a new stake in Nordic American Tankers during the first quarter valued at about $45,000. SG Americas Securities LLC acquired a new stake in shares of Nordic American Tankers in the first quarter valued at about $47,000. Finally, Caprock Group LLC bought a new position in shares of Nordic American Tankers in the second quarter worth about $55,000. Institutional investors own 44.29% of the company’s stock.
Nordic American Tankers Stock Down 0.7 %
NAT stock opened at $3.63 on Friday. The business’s 50-day simple moving average is $3.64 and its 200 day simple moving average is $3.86. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $756.89 million, a PE ratio of 11.33 and a beta of -0.19. Nordic American Tankers Limited has a twelve month low of $3.31 and a twelve month high of $4.83.
Nordic American Tankers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be paid a $0.12 dividend. 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 is 150.00%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on NAT shares. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Jefferies Financial Group reissued a “hold” rating and issued a $4.00 price objective on shares of Nordic American Tankers in a research report on Thursday, September 12th. Finally, Evercore ISI dropped their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th.
View Our Latest Stock Report on Nordic American Tankers
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.
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