16,059 Shares in TORM plc (NASDAQ:TRMD) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC bought a new stake in shares of TORM plc (NASDAQ:TRMD - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,059 shares of the company's stock, valued at approximately $312,000.

Several other hedge funds also recently bought and sold shares of the stock. Assetmark Inc. increased its position in TORM by 76.9% during the 3rd quarter. Assetmark Inc. now owns 1,187 shares of the company's stock worth $41,000 after purchasing an additional 516 shares in the last quarter. Quarry LP purchased a new stake in shares of TORM during the third quarter worth about $51,000. Thrivent Financial for Lutherans acquired a new position in shares of TORM in the third quarter valued at approximately $224,000. Apollon Wealth Management LLC purchased a new position in shares of TORM during the third quarter valued at approximately $291,000. Finally, Arkadios Wealth Advisors acquired a new stake in TORM during the fourth quarter worth approximately $301,000. Hedge funds and other institutional investors own 73.89% of the company's stock.

TORM Trading Up 0.9 %

Shares of NASDAQ TRMD traded up $0.18 during trading on Monday, hitting $20.11. 624,579 shares of the company traded hands, compared to its average volume of 1,301,829. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.89 billion, a P/E ratio of 2.60 and a beta of 0.23. The company has a 50-day moving average price of $20.04 and a 200-day moving average price of $28.17. TORM plc has a 1 year low of $17.77 and a 1 year high of $40.47.

TORM (NASDAQ:TRMD - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.06. TORM had a net margin of 43.81% and a return on equity of 34.45%. The firm had revenue of $372.10 million for the quarter, compared to analysts' expectations of $273.89 million. During the same period in the previous year, the company posted $1.36 earnings per share. On average, equities analysts predict that TORM plc will post 6.27 EPS for the current year.

TORM Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were paid a $0.876 dividend. This represents a $3.50 annualized dividend and a dividend yield of 17.42%. The ex-dividend date was Thursday, November 21st. TORM's dividend payout ratio (DPR) is 45.28%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group decreased their price objective on TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, November 14th.

TORM Company 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.