BNP Paribas Financial Markets lessened its stake in shares of TORM plc (NASDAQ:TRMD - Free Report) by 57.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,649 shares of the company's stock after selling 52,969 shares during the quarter. BNP Paribas Financial Markets' holdings in TORM were worth $1,321,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of TORM in the third quarter valued at approximately $882,000. Thrivent Financial for Lutherans acquired a new position in TORM in the 3rd quarter valued at $224,000. Natixis Advisors LLC purchased a new position in shares of TORM during the 3rd quarter worth $730,000. Apollon Wealth Management LLC acquired a new stake in shares of TORM during the third quarter worth $291,000. Finally, Assetmark Inc. grew its position in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company's stock valued at $41,000 after purchasing an additional 516 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.
TORM Trading Down 0.5 %
Shares of TRMD traded down $0.10 during trading hours on Tuesday, hitting $19.84. The stock had a trading volume of 844,085 shares, compared to its average volume of 816,707. TORM plc has a 12-month low of $19.41 and a 12-month high of $40.47. The firm has a market cap of $1.62 billion, a P/E ratio of 2.57 and a beta of 0.21. 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 company's fifty day simple moving average is $25.95 and its 200 day simple moving average is $32.92.
TORM Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were paid a $0.876 dividend. This represents a $3.50 annualized dividend and a dividend yield of 17.66%. The ex-dividend date was Thursday, November 21st. TORM's dividend payout ratio is currently 45.28%.
Wall Street Analyst Weigh In
TRMD has been the topic of several recent analyst reports. Jefferies Financial Group reduced their target price on TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Fearnley Fonds raised shares of TORM to a "hold" rating in a research report on Friday, September 27th.
Get Our Latest Analysis on TRMD
TORM Company Profile
(
Free Report)
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.
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