TORM plc (NASDAQ:TRMD) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its holdings in TORM plc (NASDAQ:TRMD - Free Report) by 57.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,532 shares of the company's stock after selling 15,788 shares during the period. State of Tennessee Department of Treasury's holdings in TORM were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TRMD. Tower Research Capital LLC TRC lifted its holdings in shares of TORM by 8.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock worth $175,000 after purchasing an additional 711 shares during the period. NewEdge Advisors LLC lifted its stake in shares of TORM by 16.4% in the 4th quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock worth $233,000 after acquiring an additional 1,685 shares during the period. Jump Financial LLC boosted its holdings in shares of TORM by 310.3% in the fourth quarter. Jump Financial LLC now owns 24,173 shares of the company's stock valued at $470,000 after acquiring an additional 18,282 shares in the last quarter. Walleye Capital LLC increased its stake in shares of TORM by 131.4% during the fourth quarter. Walleye Capital LLC now owns 51,819 shares of the company's stock worth $1,008,000 after acquiring an additional 29,423 shares during the period. Finally, XTX Topco Ltd raised its holdings in TORM by 89.7% during the fourth quarter. XTX Topco Ltd now owns 45,651 shares of the company's stock worth $888,000 after purchasing an additional 21,581 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company's stock.

TORM Price Performance

Shares of TRMD stock traded up $0.28 during midday trading on Friday, reaching $16.49. 749,604 shares of the company traded hands, compared to its average volume of 966,518. The firm's 50 day simple moving average is $16.72 and its two-hundred day simple moving average is $19.60. The firm has a market cap of $1.55 billion, a PE ratio of 2.13 and a beta of 0.12. 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 plc has a 1-year low of $13.60 and a 1-year high of $40.47.

TORM (NASDAQ:TRMD - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.02). TORM had a net margin of 43.81% and a return on equity of 34.45%. The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. On average, equities research analysts expect that TORM plc will post 6.27 EPS for the current fiscal year.

TORM Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. TORM's dividend payout ratio is presently 27.43%.

Analyst Ratings Changes

TRMD has been the topic of several recent analyst reports. Fearnley Fonds upgraded TORM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Evercore ISI dropped 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. Finally, Kepler Capital Markets downgraded TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th.

TORM Company 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.