UBS Group AG Sells 348,488 Shares of Nordic American Tankers Limited $NAT

UBS Group AG lowered its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,929,342 shares of the shipping company’s stock after selling 348,488 shares during the quarter. UBS Group AG’s holdings in Nordic American Tankers were worth $6,637,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NAT. BlueStem Wealth Partners LLC acquired a new position in Nordic American Tankers in the 3rd quarter valued at $32,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nordic American Tankers during the 3rd quarter worth $32,000. Farther Finance Advisors LLC increased its position in shares of Nordic American Tankers by 99.3% in the fourth quarter. Farther Finance Advisors LLC now owns 11,294 shares of the shipping company’s stock worth $39,000 after purchasing an additional 5,626 shares during the period. Belpointe Asset Management LLC acquired a new position in Nordic American Tankers in the third quarter valued at about $37,000. Finally, Fortis Capital Advisors LLC acquired a new position in Nordic American Tankers in the third quarter valued at about $37,000. Institutional investors own 44.29% of the company’s stock.

Analyst Ratings Changes

Separately, Evercore downgraded shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nordic American Tankers currently has an average rating of “Reduce” and a consensus price target of $4.00.

Nordic American Tankers Stock Up 0.4%

Shares of NAT opened at $5.52 on Wednesday. The firm has a 50 day simple moving average of $5.66 and a two-hundred day simple moving average of $4.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.24 and a quick ratio of 1.94. Nordic American Tankers Limited has a one year low of $2.55 and a one year high of $6.34. The company has a market cap of $1.17 billion, a P/E ratio of 78.93 and a beta of -0.54.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Friday, February 27th. The shipping company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%. The business had revenue of $58.76 million during the quarter, compared to analyst estimates of $69.43 million. Research analysts forecast that Nordic American Tankers Limited will post 0.43 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 12.3%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 10th. Nordic American Tankers’s payout ratio is 971.43%.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.