Mariner LLC Raises Stake in TORM plc (NASDAQ:TRMD)

Mariner LLC grew its stake in TORM plc (NASDAQ:TRMD - Free Report) by 129.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,382 shares of the company's stock after buying an additional 23,337 shares during the period. Mariner LLC's holdings in TORM were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its stake in 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 during the period. Norges Bank acquired a new stake in TORM during the fourth quarter worth approximately $21,273,000. Vanguard Group Inc. grew its stake in TORM by 22.4% during 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. Barclays PLC grew its stake in TORM by 65.4% during the third 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, Renaissance Technologies LLC grew its stake in 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 period. Institutional investors and hedge funds own 73.89% of the company's stock.

TORM Stock Down 0.9 %

NASDAQ TRMD traded down $0.15 during mid-day trading on Thursday, hitting $16.42. The company's stock had a trading volume of 486,522 shares, compared to its average volume of 969,874. The company's 50 day simple moving average is $16.91 and its 200 day simple moving average is $20.16. TORM plc has a twelve month low of $13.60 and a twelve month high of $40.47. 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 firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 2.12 and a beta of 0.20.

TORM Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 14.62%. The ex-dividend date was Thursday, March 20th. TORM's payout ratio is currently 27.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRMD. Kepler Capital Markets cut TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Evercore ISI reduced their price target on shares of TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a research report 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.