TORM plc (NASDAQ:TRMD) Short Interest Update

TORM plc (NASDAQ:TRMD - Get Free Report) was the recipient of a significant decrease in short interest in April. As of April 30th, there was short interest totalling 1,680,000 shares, a decrease of 19.2% from the April 15th total of 2,080,000 shares. Based on an average daily volume of 622,400 shares, the short-interest ratio is currently 2.7 days. Approximately 4.0% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMD. Bank of New York Mellon Corp grew its position in TORM by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 99,813 shares of the company's stock worth $2,747,000 after buying an additional 1,144 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in TORM by 107.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,439 shares of the company's stock valued at $419,000 after acquiring an additional 8,000 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of TORM during the third quarter worth approximately $302,000. Swiss National Bank grew its stake in shares of TORM by 15.5% during the third quarter. Swiss National Bank now owns 75,052 shares of the company's stock worth $2,037,000 after purchasing an additional 10,081 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of TORM by 4.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,496 shares of the company's stock valued at $316,000 after acquiring an additional 484 shares during the period. 73.89% of the stock is currently owned by institutional investors and hedge funds.

TORM Stock Up 1.9 %

TORM stock traded up $0.69 during mid-day trading on Monday, hitting $36.91. 1,253,684 shares of the company's stock were exchanged, compared to its average volume of 667,873. TORM has a 1-year low of $22.31 and a 1-year high of $37.17. The stock has a 50 day moving average of $34.33 and a two-hundred day moving average of $32.79. The company has a current ratio of 2.60, a quick ratio of 2.37 and a debt-to-equity ratio of 0.53. The stock has a market cap of $3.01 billion, a P/E ratio of 4.86 and a beta of 0.16.

TORM (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The company reported $1.56 EPS for the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%. The business had revenue of $387.78 million for the quarter. As a group, analysts anticipate that TORM will post 7.35 EPS for the current fiscal year.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 22nd will be issued a dividend of $1.50 per share. This is an increase from TORM's previous quarterly dividend of $1.36. This represents a $6.00 annualized dividend and a dividend yield of 16.26%. The ex-dividend date of this dividend is Tuesday, May 21st. TORM's dividend payout ratio is currently 53.22%.

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.