Bank of New York Mellon Corp reduced its stake in shares of TORM plc (NASDAQ:TRMD - Free Report) by 86.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,337 shares of the company's stock after selling 295,147 shares during the quarter. Bank of New York Mellon Corp's holdings in TORM were worth $901,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of TRMD. Quarry LP bought a new position in TORM during the 3rd quarter worth approximately $51,000. Apollon Wealth Management LLC raised its holdings in TORM by 26.1% in the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock worth $208,000 after purchasing an additional 2,219 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of TORM during the third quarter worth $224,000. Arkadios Wealth Advisors acquired a new position in shares of TORM in the 4th quarter valued at $301,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of TORM in the 4th quarter valued at $312,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a report on Thursday.
Read Our Latest Stock Analysis on TORM
TORM Stock Down 0.6 %
TRMD stock traded down $0.10 during mid-day trading on Friday, hitting $16.87. 769,958 shares of the company were exchanged, compared to its average volume of 954,701. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. TORM plc has a 1-year low of $16.58 and a 1-year high of $40.47. The firm's 50 day simple moving average is $18.98 and its 200 day simple moving average is $23.18. The firm has a market cap of $1.59 billion, a P/E ratio of 2.18 and a beta of 0.14.
TORM Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 14.23%. The ex-dividend date is Thursday, March 20th. TORM's payout ratio is presently 27.43%.
About TORM
(
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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