Renaissance Technologies LLC Purchases 109,916 Shares of TORM plc (NASDAQ:TRMD)

Renaissance Technologies LLC boosted its holdings in shares of TORM plc (NASDAQ:TRMD - Free Report) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 561,889 shares of the company's stock after buying an additional 109,916 shares during the quarter. Renaissance Technologies LLC owned about 0.60% of TORM worth $10,929,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TRMD. Barclays PLC increased its holdings 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 acquiring an additional 151,942 shares during the last quarter. Geode Capital Management LLC boosted its position in TORM by 0.6% during the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company's stock worth $2,791,000 after purchasing an additional 505 shares during the period. Tidal Investments LLC acquired a new position in TORM during the third quarter valued at approximately $1,601,000. Franklin Resources Inc. bought a new position in shares of TORM in the third quarter valued at approximately $1,047,000. Finally, CWA Asset Management Group LLC lifted its stake in shares of TORM by 9.8% in the fourth quarter. CWA Asset Management Group LLC now owns 39,760 shares of the company's stock worth $773,000 after buying an additional 3,563 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Evercore ISI dropped their target price on shares of TORM from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday. Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th.

TORM Stock Performance

Shares of TORM stock traded down $0.16 during midday trading on Tuesday, hitting $15.38. The company had a trading volume of 488,313 shares, compared to its average volume of 971,304. The stock has a market cap of $1.45 billion, a PE ratio of 1.99 and a beta of 0.20. TORM plc has a 1-year low of $13.60 and a 1-year high of $40.47. The business's 50 day simple moving average is $17.25 and its two-hundred day simple moving average is $20.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 15.60%. The ex-dividend date of this dividend was Thursday, March 20th. TORM's dividend payout ratio is currently 27.43%.

TORM 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.