Diametric Capital LP acquired a new position in shares of TORM plc (NASDAQ:TRMD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,272 shares of the company's stock, valued at approximately $355,000.
Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in TORM by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company's stock valued at $2,791,000 after purchasing an additional 505 shares during the last quarter. Quarry LP acquired a new position in TORM during the third quarter worth approximately $51,000. Jones Financial Companies Lllp raised its stake in TORM by 49.5% in the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after buying an additional 1,939 shares during the period. Apollon Wealth Management LLC lifted its position in shares of TORM by 26.1% in the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock valued at $208,000 after buying an additional 2,219 shares during the last quarter. Finally, U S Global Investors Inc. boosted its stake in shares of TORM by 26.3% during the 4th quarter. U S Global Investors Inc. now owns 12,620 shares of the company's stock worth $245,000 after acquiring an additional 2,625 shares during the period. Institutional investors and hedge funds own 73.89% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Kepler Capital Markets cut TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th.
Get Our Latest Report on TORM
TORM Stock Performance
TRMD traded down $1.36 on Thursday, reaching $14.99. The company had a trading volume of 1,677,712 shares, compared to its average volume of 958,054. The company's fifty day moving average is $18.69 and its 200 day moving average is $22.76. 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 stock has a market cap of $1.41 billion, a P/E ratio of 1.94 and a beta of 0.14. TORM plc has a fifty-two week low of $14.94 and a fifty-two week high of $40.47.
TORM Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 16.01%. TORM's dividend payout ratio (DPR) is currently 27.43%.
About TORM
(
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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