Diametric Capital LP Makes New Investment in TORM plc (NASDAQ:TRMD)

Diametric Capital LP bought a new position in shares of TORM plc (NASDAQ:TRMD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 18,272 shares of the company's stock, valued at approximately $355,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of TORM by 94.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock worth $84,585,000 after purchasing an additional 2,115,672 shares in the last quarter. Norges Bank purchased a new position in TORM in the fourth quarter valued at $21,273,000. Vanguard Group Inc. grew its stake in TORM by 22.4% during the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock worth $36,417,000 after purchasing an additional 345,463 shares in the last quarter. Barclays PLC increased its holdings in 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 purchasing an additional 151,942 shares during the period. Finally, Soros Fund Management LLC acquired a new stake in TORM in the 3rd quarter valued at about $3,419,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

TORM Stock Down 6.8 %

NASDAQ:TRMD traded down $1.02 during trading hours on Friday, hitting $13.97. The company's stock had a trading volume of 1,815,922 shares, compared to its average volume of 964,501. The stock has a market capitalization of $1.31 billion, a P/E ratio of 1.81 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. The stock has a fifty day moving average of $18.58 and a 200-day moving average of $22.52. TORM plc has a 52-week low of $13.60 and a 52-week high of $40.47.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were issued 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 17.18%. TORM's payout ratio is currently 27.43%.

Wall Street Analyst Weigh In

Separately, Kepler Capital Markets lowered shares of TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th.

TORM 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.