Principal Financial Group Inc. Sells 114,564 Shares of Nordic American Tankers Limited (NYSE:NAT)

Principal Financial Group Inc. lessened its holdings in Nordic American Tankers Limited (NYSE:NAT) by 89.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,192 shares of the shipping company’s stock after selling 114,564 shares during the period. Principal Financial Group Inc.’s holdings in Nordic American Tankers were worth $52,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NAT. Dimensional Fund Advisors LP boosted its holdings in shares of Nordic American Tankers by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after acquiring an additional 621,588 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Nordic American Tankers by 40.5% during the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after purchasing an additional 1,009,096 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Nordic American Tankers by 19.6% during the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock worth $6,595,000 after purchasing an additional 275,707 shares during the last quarter. Millennium Management LLC increased its stake in shares of Nordic American Tankers by 122.8% in the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after buying an additional 711,973 shares during the period. Finally, TrueMark Investments LLC acquired a new position in shares of Nordic American Tankers in the second quarter valued at approximately $4,373,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NAT shares. Evercore ISI reduced 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 report on Friday, August 30th. Jefferies Financial Group reduced their price objective on shares of Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Thursday, November 14th. Finally, StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th.

Nordic American Tankers Trading Down 2.4 %

NYSE:NAT opened at $2.88 on Wednesday. Nordic American Tankers Limited has a 52 week low of $2.88 and a 52 week high of $4.64. 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 firm’s fifty day moving average is $3.42 and its 200-day moving average is $3.69. The firm has a market cap of $601.33 million, a P/E ratio of 9.93 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Equities analysts expect that Nordic American Tankers Limited will post 0.28 earnings per share for the current year.

Nordic American Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th were paid a $0.12 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.48 annualized dividend and a dividend yield of 16.67%. Nordic American Tankers’s dividend payout ratio is currently 165.52%.

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.