Franklin Resources Inc. Acquires 28,455 Shares of TORM plc (NASDAQ:TRMD)

Franklin Resources Inc. raised its holdings in TORM plc (NASDAQ:TRMD - Free Report) by 86.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,429 shares of the company's stock after buying an additional 28,455 shares during the quarter. Franklin Resources Inc. owned 0.07% of TORM worth $1,180,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of TORM by 49.5% in the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock worth $114,000 after acquiring an additional 1,939 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of TORM by 26.1% during 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. U S Global Investors Inc. grew its position in TORM by 26.3% during the fourth quarter. U S Global Investors Inc. now owns 12,620 shares of the company's stock worth $245,000 after buying an additional 2,625 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in TORM in the 4th quarter valued at approximately $293,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of TORM during the 4th quarter worth approximately $301,000. 73.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Kepler Capital Markets downgraded shares of TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th.

TORM Price Performance

Shares of TRMD traded up $0.32 during mid-day trading on Friday, reaching $15.60. The company had a trading volume of 530,080 shares, compared to its average volume of 971,050. 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 company has a market capitalization of $1.47 billion, a P/E ratio of 2.02 and a beta of 0.20. TORM plc has a twelve month low of $13.60 and a twelve month high of $40.47. The company's 50-day moving average is $17.43 and its 200-day moving average is $21.07.

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 issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 15.38%. The ex-dividend date was Thursday, March 20th. TORM's payout ratio is 27.43%.

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.