JPMorgan Chase & Co. Sells 285,531 Shares of TORM plc (NASDAQ:TRMD)

JPMorgan Chase & Co. cut its holdings in TORM plc (NASDAQ:TRMD - Free Report) by 98.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,970 shares of the company's stock after selling 285,531 shares during the period. JPMorgan Chase & Co.'s holdings in TORM were worth $97,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TRMD. Vanguard Group Inc. raised its stake in shares of TORM by 22.4% in the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock worth $36,417,000 after buying an additional 345,463 shares during the period. Barclays PLC increased its holdings in TORM by 65.4% in the 3rd quarter. Barclays PLC now owns 384,308 shares of the company's stock worth $13,140,000 after acquiring an additional 151,942 shares in the last quarter. Platinum Investment Management Ltd. raised its stake in TORM by 92.5% during the 4th quarter. Platinum Investment Management Ltd. now owns 152,439 shares of the company's stock worth $2,929,000 after acquiring an additional 73,240 shares during the period. SBI Securities Co. Ltd. bought a new stake in TORM during the 4th quarter worth approximately $1,093,000. Finally, Tidal Investments LLC purchased a new position in TORM during the third quarter valued at approximately $1,601,000. Hedge funds and other institutional investors own 73.89% of the company's stock.

TORM Trading Up 2.3 %

Shares of TRMD opened at $17.11 on Tuesday. The firm has a market cap of $1.61 billion, a P/E ratio of 2.21 and a beta of 0.12. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. TORM plc has a 1 year low of $13.60 and a 1 year high of $40.47. The company has a 50 day simple moving average of $16.77 and a two-hundred day simple moving average of $19.74.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 14.03%. The ex-dividend date was Thursday, March 20th. TORM's payout ratio is presently 27.43%.

Analyst Ratings Changes

Several brokerages have recently commented on TRMD. Evercore ISI decreased their price objective on shares of TORM from $25.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Kepler Capital Markets downgraded TORM from a "hold" rating to a "strong sell" rating in a research report 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.

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