Walleye Capital LLC Increases Stake in TORM plc (NASDAQ:TRMD)

Walleye Capital LLC increased its position in shares of TORM plc (NASDAQ:TRMD - Free Report) by 131.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,819 shares of the company's stock after buying an additional 29,423 shares during the period. Walleye Capital LLC owned about 0.06% of TORM worth $1,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its stake in TORM by 94.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock valued at $84,585,000 after purchasing an additional 2,115,672 shares during the period. Norges Bank purchased a new position in TORM during the 4th quarter worth $21,273,000. Vanguard Group Inc. increased its stake in shares of TORM by 22.4% during the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock worth $36,417,000 after acquiring an additional 345,463 shares during the period. Barclays PLC raised its stake in shares of TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company's stock worth $13,140,000 after buying an additional 151,942 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in TORM by 24.3% during the fourth quarter. Renaissance Technologies LLC now owns 561,889 shares of the company's stock worth $10,929,000 after acquiring an additional 109,916 shares during the period. 73.89% of the stock is owned by institutional investors and hedge funds.

TORM Price Performance

Shares of NASDAQ TRMD traded up $0.44 during trading on Friday, reaching $16.50. The company had a trading volume of 292,408 shares, compared to its average volume of 968,690. The stock has a 50-day moving average price of $17.12 and a two-hundred day moving average price of $20.59. TORM plc has a twelve month low of $13.60 and a twelve month high of $40.47. The stock has a market capitalization of $1.55 billion, a PE ratio of 2.13 and a beta of 0.20. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors 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 14.55%. TORM's dividend payout ratio (DPR) is currently 27.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TRMD shares. Evercore ISI cut their price target on shares of TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday. Kepler Capital Markets cut TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th.

TORM Company 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.