PSI Advisors LLC Has $824,000 Holdings in TORM plc (NASDAQ:TRMD)

PSI Advisors LLC grew its holdings in shares of TORM plc (NASDAQ:TRMD - Free Report) by 139.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,367 shares of the company's stock after purchasing an additional 24,702 shares during the period. PSI Advisors LLC owned approximately 0.05% of TORM worth $824,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in TRMD. National Bank of Canada FI purchased a new position in shares of TORM in the second quarter valued at $26,000. Assetmark Inc. raised its position in TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company's stock worth $41,000 after acquiring an additional 516 shares during the last quarter. Quarry LP acquired a new stake in shares of TORM in the third quarter valued at approximately $51,000. Point72 Hong Kong Ltd purchased a new position in shares of TORM during the 2nd quarter worth approximately $78,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of TORM during the 3rd quarter worth approximately $224,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

TORM Stock Performance

TRMD traded down $0.39 during trading hours on Tuesday, hitting $22.67. The company's stock had a trading volume of 1,480,736 shares, compared to its average volume of 1,486,039. The company has a 50-day simple moving average of $21.00 and a 200 day simple moving average of $29.94. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.85 billion, a PE ratio of 2.93 and a beta of 0.23. TORM plc has a fifty-two week low of $17.77 and a fifty-two week high of $40.47.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were paid a $0.876 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 15.46%. The ex-dividend date of this dividend was Thursday, November 21st. TORM's dividend payout ratio is presently 45.28%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRMD. Fearnley Fonds upgraded shares of TORM to a "hold" rating in a report on Friday, September 27th. Jefferies Financial Group reduced their price objective on TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th.

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.