Franklin Resources Inc. increased its position in shares of TORM plc (NASDAQ:TRMD - Free Report) by 86.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,429 shares of the company's stock after purchasing an additional 28,455 shares during the quarter. Franklin Resources Inc. owned 0.07% of TORM worth $1,180,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock worth $114,000 after purchasing an additional 1,939 shares during the period. Apollon Wealth Management LLC grew its position in shares of TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock valued at $208,000 after buying an additional 2,219 shares during the last quarter. U S Global Investors Inc. lifted its holdings in TORM by 26.3% in the fourth quarter. U S Global Investors Inc. now owns 12,620 shares of the company's stock worth $245,000 after acquiring an additional 2,625 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in TORM in the fourth quarter valued at approximately $293,000. Finally, Arkadios Wealth Advisors bought a new position in shares of TORM during the fourth quarter valued at approximately $301,000. Institutional investors and hedge funds own 73.89% of the company's stock.
Analyst Ratings Changes
Separately, Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 27th.
View Our Latest Analysis on TRMD
TORM Stock Performance
Shares of NASDAQ:TRMD traded up $0.32 during trading hours on Friday, hitting $15.60. The stock had a trading volume of 530,080 shares, compared to its average volume of 973,303. The stock's fifty day simple moving average is $17.43 and its 200 day simple moving average is $20.90. 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 firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 2.02 and a beta of 0.20. TORM plc has a 1-year low of $13.60 and a 1-year high of $40.47.
TORM Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 15.38%. The ex-dividend date of this dividend was Thursday, March 20th. TORM's dividend payout ratio (DPR) is 27.43%.
TORM Company Profile
(
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.
Further Reading
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