Platinum Investment Management Ltd. raised its holdings in TORM plc (NASDAQ:TRMD - Free Report) by 92.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,439 shares of the company's stock after purchasing an additional 73,240 shares during the period. Platinum Investment Management Ltd. owned 0.16% of TORM worth $2,929,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the business. Two Sigma Advisers LP increased its stake in shares of TORM by 2.6% in the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company's stock worth $43,315,000 after purchasing an additional 32,500 shares in the last quarter. Barclays PLC grew its stake in TORM by 65.4% during the third quarter. Barclays PLC now owns 384,308 shares of the company's stock valued at $13,140,000 after acquiring an additional 151,942 shares in the last quarter. Swiss National Bank grew its stake in TORM by 11.2% during the fourth quarter. Swiss National Bank now owns 113,760 shares of the company's stock valued at $2,191,000 after acquiring an additional 11,469 shares in the last quarter. Soros Fund Management LLC purchased a new position in TORM during the third quarter valued at approximately $3,419,000. Finally, Centiva Capital LP purchased a new position in TORM during the third quarter valued at approximately $3,077,000. Hedge funds and other institutional investors own 73.89% of the company's stock.
TORM Price Performance
NASDAQ:TRMD traded down $0.75 during mid-day trading on Thursday, hitting $19.21. 882,053 shares of the stock traded hands, compared to its average volume of 937,321. The business's 50-day moving average price is $19.52 and its 200 day moving average price is $23.95. The company has a market cap of $1.81 billion, a PE ratio of 2.49 and a beta of 0.14. TORM plc has a 12-month low of $16.76 and a 12-month high of $40.47. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.
TORM Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.40 annualized dividend and a yield of 12.49%. TORM's payout ratio is presently 27.43%.
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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