Hsbc Holdings PLC Purchases 50,589 Shares of TORM plc (NASDAQ:TRMD)

Hsbc Holdings PLC grew its position in TORM plc (NASDAQ:TRMD - Free Report) by 49.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,460 shares of the company's stock after buying an additional 50,589 shares during the quarter. Hsbc Holdings PLC owned 0.16% of TORM worth $2,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company's stock worth $13,140,000 after buying an additional 151,942 shares during the last quarter. Geode Capital Management LLC raised its stake in TORM by 0.6% during the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company's stock worth $2,791,000 after acquiring an additional 505 shares in the last quarter. Tidal Investments LLC bought a new position in shares of TORM in the third quarter worth about $1,601,000. Franklin Resources Inc. acquired a new stake in shares of TORM in the 3rd quarter valued at approximately $1,047,000. Finally, CWA Asset Management Group LLC grew its holdings in shares of TORM by 9.8% during the 4th quarter. CWA Asset Management Group LLC now owns 39,760 shares of the company's stock valued at $773,000 after purchasing an additional 3,563 shares during the last quarter. Institutional investors own 73.89% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Kepler Capital Markets downgraded shares of TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Evercore ISI cut their price objective on TORM from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd.

TORM Trading Up 1.9 %

NASDAQ TRMD traded up $0.32 during trading hours on Monday, reaching $17.04. The company's stock had a trading volume of 224,494 shares, compared to its average volume of 971,306. TORM plc has a 52 week low of $13.60 and a 52 week high of $40.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The stock has a market cap of $1.60 billion, a P/E ratio of 2.20 and a beta of 0.12. The firm has a fifty day simple moving average of $16.81 and a 200-day simple moving average of $19.83.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors 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 yield of 14.09%. TORM's payout ratio is 27.43%.

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.