TORM plc (NASDAQ:TRMD) Shares Acquired by Mariner LLC

Mariner LLC grew its stake in TORM plc (NASDAQ:TRMD - Free Report) by 129.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,382 shares of the company's stock after purchasing an additional 23,337 shares during the period. Mariner LLC's holdings in TORM were worth $805,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in shares of TORM by 49.5% in the fourth 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 period. Apollon Wealth Management LLC increased its holdings in shares of TORM by 26.1% in the fourth 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 period. Aristides Capital LLC acquired a new position in shares of TORM in the fourth quarter valued at approximately $216,000. U S Global Investors Inc. increased its holdings in shares of TORM by 26.3% in the fourth quarter. U S Global Investors Inc. now owns 12,620 shares of the company's stock valued at $245,000 after purchasing an additional 2,625 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of TORM in the fourth quarter valued at approximately $293,000. Institutional investors and hedge funds own 73.89% of the company's stock.

TORM Stock Down 1.7 %

TRMD opened at $16.26 on Tuesday. The business's fifty day moving average is $17.00 and its two-hundred day moving average is $20.21. 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 company has a market cap of $1.53 billion, a price-to-earnings ratio of 2.10 and a beta of 0.20. TORM plc has a one year low of $13.60 and a one year high of $40.47.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a yield of 14.76%. TORM's payout ratio is 27.43%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TRMD shares. Evercore ISI dropped their price objective on TORM from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th.

About TORM

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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