Nordic American Tankers Limited (NYSE:NAT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 89.0% during the third quarter, Holdings Channel.com reports. The fund owned 14,192 shares of the shipping company’s stock after selling 114,564 shares during the quarter. Principal Financial Group Inc.’s holdings in Nordic American Tankers were worth $52,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of Nordic American Tankers by 10.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 692,602 shares of the shipping company’s stock worth $2,757,000 after purchasing an additional 67,009 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Nordic American Tankers by 30.5% during the second quarter. Commonwealth Equity Services LLC now owns 308,463 shares of the shipping company’s stock worth $1,228,000 after buying an additional 72,139 shares in the last quarter. Caprock Group LLC acquired a new position in Nordic American Tankers in the second quarter worth approximately $55,000. Ballentine Partners LLC bought a new position in shares of Nordic American Tankers in the second quarter valued at $63,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Nordic American Tankers during the 2nd quarter valued at $25,000. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Price Performance

NAT opened at $2.73 on Wednesday. The firm has a market capitalization of $570.01 million, a P/E ratio of 9.41 and a beta of -0.29. The stock has a fifty day moving average of $2.80 and a 200-day moving average of $3.37. 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 Limited has a 12-month low of $2.41 and a 12-month high of $4.64.

Nordic American Tankers Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 annualized dividend and a yield of 17.58%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 55.17%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NAT shares. Jefferies Financial Group restated a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a report on Friday, November 29th. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd.

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.