Norges Bank purchased a new stake in shares of TORM plc (NASDAQ:TRMD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,107,523 shares of the company's stock, valued at approximately $21,273,000. Norges Bank owned about 1.18% of TORM at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Quarry LP acquired a new stake in TORM in the third quarter valued at approximately $51,000. Jones Financial Companies Lllp lifted its stake in shares of TORM by 49.5% in the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after purchasing an additional 1,939 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of TORM by 26.1% in the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock valued at $208,000 after purchasing an additional 2,219 shares during the last quarter. U S Global Investors Inc. boosted its holdings in TORM by 26.3% in the fourth quarter. U S Global Investors Inc. now owns 12,620 shares of the company's stock worth $245,000 after purchasing an additional 2,625 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in TORM during the fourth quarter valued at about $293,000. Institutional investors own 73.89% of the company's stock.
TORM Stock Performance
Shares of TORM stock traded up $0.62 on Friday, reaching $15.86. The stock had a trading volume of 840,415 shares, compared to its average volume of 975,196. TORM plc has a fifty-two week low of $13.60 and a fifty-two week high of $40.47. The business's 50-day moving average price is $17.92 and its two-hundred day moving average price is $21.63. 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 $1.49 billion, a P/E ratio of 2.05 and a beta of 0.20.
TORM Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 15.13%. The ex-dividend date was Thursday, March 20th. TORM's dividend payout ratio (DPR) is 27.43%.
Analysts Set New Price Targets
Separately, Kepler Capital Markets downgraded TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th.
Read Our Latest Report on TRMD
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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