Arrowstreet Capital Limited Partnership Acquires 2,115,672 Shares of TORM plc (NASDAQ:TRMD)

Arrowstreet Capital Limited Partnership increased its position in shares of TORM plc (NASDAQ:TRMD - Free Report) by 94.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,366,769 shares of the company's stock after acquiring an additional 2,115,672 shares during the quarter. Arrowstreet Capital Limited Partnership owned 4.65% of TORM worth $84,585,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TRMD. Vanguard Group Inc. lifted its holdings in shares of TORM by 22.4% in the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock valued at $36,417,000 after purchasing an additional 345,463 shares in the last quarter. Two Sigma Advisers LP raised its position in TORM by 2.6% during the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company's stock valued at $43,315,000 after buying an additional 32,500 shares during the period. Norges Bank purchased a new stake in TORM in the 4th quarter worth about $21,273,000. Barclays PLC boosted its position in TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company's stock worth $13,140,000 after acquiring an additional 151,942 shares during the period. Finally, Platinum Investment Management Ltd. grew its stake in TORM by 92.5% during the 4th quarter. Platinum Investment Management Ltd. now owns 152,439 shares of the company's stock valued at $2,929,000 after acquiring an additional 73,240 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company's stock.

Analysts Set New Price Targets

Separately, Kepler Capital Markets cut shares of TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th.

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TORM Stock Down 8.3 %

Shares of NASDAQ:TRMD traded down $1.36 during midday trading on Thursday, hitting $14.99. 1,677,712 shares of the stock were exchanged, compared to its average volume of 958,762. The company has a market capitalization of $1.41 billion, a PE ratio of 1.94 and a beta of 0.14. TORM plc has a 52-week low of $14.94 and a 52-week high of $40.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The business's fifty day simple moving average is $18.78 and its two-hundred day simple moving average is $22.82.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.40 annualized dividend and a dividend yield of 16.01%. TORM's dividend payout ratio is 27.43%.

TORM Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.