Franklin Resources Inc. purchased a new position in TORM plc (NASDAQ:TRMD - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,974 shares of the company's stock, valued at approximately $1,047,000.
A number of other hedge funds have also recently modified their holdings of TRMD. Marshall Wace LLP raised its holdings in shares of TORM by 860.9% during the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company's stock valued at $55,441,000 after acquiring an additional 1,281,176 shares in the last quarter. Two Sigma Advisers LP increased its position in TORM by 2.6% during the 3rd quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company's stock valued at $43,315,000 after purchasing an additional 32,500 shares during the period. Acadian Asset Management LLC raised its holdings in TORM by 320.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company's stock worth $49,189,000 after purchasing an additional 964,801 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of TORM by 38.9% in the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company's stock worth $25,945,000 after purchasing an additional 187,300 shares during the period. Finally, Barclays PLC boosted its stake in shares of TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company's stock valued at $13,140,000 after purchasing an additional 151,942 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company's stock.
TORM Stock Down 0.2 %
TORM stock traded down $0.04 on Friday, hitting $19.34. 1,207,425 shares of the stock traded hands, compared to its average volume of 832,860. The business's fifty day simple moving average is $22.39 and its 200 day simple moving average is $31.14. The firm has a market cap of $1.58 billion, a P/E ratio of 2.50 and a beta of 0.21. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. TORM plc has a 1 year low of $17.77 and a 1 year high of $40.47.
TORM Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were paid a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 18.12%. The ex-dividend date of this dividend was Thursday, November 21st. TORM's payout ratio is currently 45.28%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of TORM from $37.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Fearnley Fonds upgraded TORM to a "hold" rating in a report on Friday, September 27th.
Check Out Our Latest Report on TORM
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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