Nordic American Tankers Limited (NYSE:NAT) Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Nordic American Tankers Limited (NYSE:NAT) by 89.0% during the third quarter, according to 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.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NAT. Headlands Technologies LLC acquired a new stake in Nordic American Tankers in the second quarter worth $25,000. Raymond James Trust N.A. bought a new position in shares of Nordic American Tankers during the third quarter worth about $37,000. Bluefin Capital Management LLC acquired a new stake in shares of Nordic American Tankers in the 2nd quarter worth about $47,000. Caprock Group LLC bought a new stake in Nordic American Tankers in the 2nd quarter valued at about $55,000. Finally, Ballentine Partners LLC acquired a new position in Nordic American Tankers during the 2nd quarter valued at about $63,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NAT. Jefferies Financial Group restated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research note on Friday, November 29th. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd.

Nordic American Tankers Stock Performance

Shares of NAT opened at $2.73 on Wednesday. Nordic American Tankers Limited has a 52-week low of $2.41 and a 52-week high of $4.64. The firm has a market capitalization of $570.01 million, a PE ratio of 9.41 and a beta of -0.29. The firm has a 50-day moving average price of $2.80 and a 200 day moving average price 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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 17th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 17.58%. Nordic American Tankers’s dividend payout ratio is presently 55.17%.

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.