Vanguard Group Inc. raised its stake in shares of TORM plc (NASDAQ:TRMD - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,885,040 shares of the company's stock after acquiring an additional 345,463 shares during the quarter. Vanguard Group Inc. owned approximately 2.01% of TORM worth $36,417,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in TRMD. Jones Financial Companies Lllp grew its stake in 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 buying an additional 1,939 shares during the last quarter. Apollon Wealth Management LLC grew its position in TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock worth $208,000 after acquiring an additional 2,219 shares during the last quarter. U S Global Investors Inc. increased its holdings in TORM by 26.3% during the 4th quarter. U S Global Investors Inc. now owns 12,620 shares of the company's stock valued at $245,000 after purchasing an additional 2,625 shares in the last quarter. Fox Run Management L.L.C. bought a new position in TORM in the 4th quarter valued at $293,000. Finally, Arkadios Wealth Advisors acquired a new position in TORM in the fourth quarter worth $301,000. Institutional investors and hedge funds own 73.89% of the company's stock.
Wall Street Analyst Weigh In
Separately, Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th.
Get Our Latest Stock Report on TORM
TORM Trading Up 2.1 %
NASDAQ TRMD traded up $0.32 during trading on Friday, reaching $15.60. 530,080 shares of the stock traded hands, compared to its average volume of 971,050. TORM plc has a fifty-two week low of $13.60 and a fifty-two week high of $40.47. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 2.02 and a beta of 0.20. The stock's 50-day moving average price is $17.43 and its 200 day moving average price is $21.07.
TORM Cuts Dividend
The firm also recently disclosed 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 annualized dividend and a yield of 15.38%. The ex-dividend date was Thursday, March 20th. TORM's payout ratio is presently 27.43%.
About TORM
(
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.
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