Marshall Wace LLP Decreases Holdings in TORM plc (NASDAQ:TRMD)

Marshall Wace LLP lowered its position in TORM plc (NASDAQ:TRMD - Free Report) by 55.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 222,121 shares of the company's stock after selling 275,249 shares during the period. Marshall Wace LLP owned approximately 0.24% of TORM worth $4,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of TORM by 94.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock worth $84,585,000 after acquiring an additional 2,115,672 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 purchasing an additional 345,463 shares during the period. Norges Bank bought a new stake in shares of TORM during the fourth quarter worth $21,273,000. Renaissance Technologies LLC lifted its position in shares of 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 purchasing an additional 109,916 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of TORM by 65.4% during the third quarter. Barclays PLC now owns 384,308 shares of the company's stock valued at $13,140,000 after purchasing an additional 151,942 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.

TORM Stock Down 0.4 %

Shares of NASDAQ:TRMD traded down $0.06 during trading hours on Wednesday, hitting $16.57. The company's stock had a trading volume of 643,809 shares, compared to its average volume of 971,807. The firm's fifty day moving average price is $16.91 and its 200 day moving average price is $20.16. TORM plc has a 52 week low of $13.60 and a 52 week high of $40.47. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 2.14 and a beta of 0.20. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th were issued a $0.60 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.48%. TORM's dividend payout ratio is presently 27.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Kepler Capital Markets lowered shares of TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th. Evercore ISI decreased their price target on shares of TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd.

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.