TORM plc (NASDAQ:TRMD - Get Free Report) gapped up prior to trading on Thursday after the company announced a dividend. The stock had previously closed at $17.35, but opened at $18.87. TORM shares last traded at $19.45, with a volume of 664,846 shares changing hands.
The newly announced 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. This represents a $2.40 annualized dividend and a yield of 12.59%. The ex-dividend date is Thursday, March 20th. TORM's dividend payout ratio (DPR) is currently 45.28%.
Analyst Ratings Changes
Separately, Jefferies Financial Group decreased their price objective on shares of TORM from $37.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, November 14th.
Read Our Latest Report on TORM
TORM Stock Down 1.7 %
The stock has a market cap of $1.79 billion, a P/E ratio of 2.47 and a beta of 0.14. The firm has a 50 day simple moving average of $19.80 and a 200-day simple moving average of $24.93. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.
Institutional Investors Weigh In On TORM
A number of large investors have recently added to or reduced their stakes in TRMD. Centiva Capital LP bought a new position in TORM during the third quarter worth $3,077,000. Exchange Traded Concepts LLC bought a new stake in shares of TORM during the 4th quarter worth about $312,000. Franklin Resources Inc. bought a new stake in shares of TORM during the 3rd quarter worth about $1,047,000. PSI Advisors LLC grew its stake in TORM by 139.8% in the 4th quarter. PSI Advisors LLC now owns 42,367 shares of the company's stock valued at $824,000 after buying an additional 24,702 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in TORM in the 4th quarter valued at about $301,000. Institutional investors own 73.89% of the company's stock.
About TORM
(
Get 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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