Dynamic Technology Lab Private Ltd bought a new stake in shares of TORM plc (NASDAQ:TRMD - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 25,803 shares of the company's stock, valued at approximately $882,000.
A number of other hedge funds have also recently made changes to their positions in TRMD. National Bank of Canada FI bought a new stake in shares of TORM in the 2nd quarter worth approximately $26,000. Assetmark Inc. lifted its holdings in shares of TORM by 76.9% in the 3rd quarter. Assetmark Inc. now owns 1,187 shares of the company's stock worth $41,000 after acquiring an additional 516 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of TORM in the 2nd quarter worth approximately $43,000. Syquant Capital Sas bought a new stake in shares of TORM in the 2nd quarter worth approximately $46,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of TORM in the second quarter worth $78,000. 73.89% of the stock is currently owned by institutional investors.
TORM Trading Down 0.4 %
TORM stock traded down $0.09 during mid-day trading on Thursday, reaching $21.09. 1,275,522 shares of the company traded hands, compared to its average volume of 804,719. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The firm's 50 day moving average price is $28.29 and its 200 day moving average price is $33.92. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 2.73 and a beta of 0.27. TORM plc has a 52-week low of $20.69 and a 52-week high of $40.47.
TORM Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a yield of 16.61%. The ex-dividend date is Thursday, November 21st. TORM's payout ratio is currently 45.28%.
Wall Street Analysts Forecast Growth
TRMD has been the topic of several analyst reports. Fearnley Fonds raised shares of TORM to a "hold" rating in a research note on Friday, September 27th. Jefferies Financial Group decreased their target price on shares of TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th.
Get Our Latest Stock Analysis on TORM
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.
Recommended Stories
Before you consider TORM, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TORM wasn't on the list.
While TORM currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
