Cherry Tree Wealth Management LLC Lowers Holdings in Nordic American Tankers Limited (NYSE:NAT)

Cherry Tree Wealth Management LLC trimmed its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 11.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,600 shares of the shipping company’s stock after selling 4,000 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Nordic American Tankers were worth $133,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Nordic American Tankers by 88.5% in the third quarter. Barclays PLC now owns 77,203 shares of the shipping company’s stock valued at $318,000 after acquiring an additional 36,245 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Nordic American Tankers by 3.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,047,454 shares of the shipping company’s stock valued at $16,999,000 after acquiring an additional 152,166 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Nordic American Tankers by 783.8% in the third quarter. Qube Research & Technologies Ltd now owns 484,179 shares of the shipping company’s stock valued at $1,995,000 after purchasing an additional 429,396 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Nordic American Tankers in the 3rd quarter valued at $846,000. Finally, CoreCap Advisors LLC purchased a new position in Nordic American Tankers in the 4th quarter worth approximately $105,000. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Up 2.9 %

Shares of NAT stock traded up $0.11 during trading on Wednesday, reaching $4.06. The company’s stock had a trading volume of 2,385,002 shares, compared to its average volume of 2,810,446. The company has a market capitalization of $846.67 million, a price-to-earnings ratio of 8.53 and a beta of -0.09. Nordic American Tankers Limited has a 1-year low of $3.35 and a 1-year high of $4.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.55 and a quick ratio of 1.10. The stock’s 50-day moving average price is $3.95 and its 200 day moving average price is $4.18.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, March 1st. The shipping company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The firm had revenue of $59.25 million during the quarter, compared to analysts’ expectations of $68.90 million. Nordic American Tankers had a net margin of 37.65% and a return on equity of 18.12%. During the same period in the prior year, the company posted $0.17 earnings per share. On average, research analysts anticipate that Nordic American Tankers Limited will post 0.6 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were issued a $0.12 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.84%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. Nordic American Tankers’s dividend payout ratio is presently 102.13%.

Wall Street Analysts Forecast Growth

NAT has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $5.50 target price on shares of Nordic American Tankers in a research note on Thursday, February 29th. Evercore ISI cut their target price on Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating on the stock in a research report on Thursday, February 29th. Finally, TheStreet lowered Nordic American Tankers from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.33.

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.