TORM plc (NASDAQ:TRMD) Stake Lifted by Barclays PLC

Barclays PLC increased its position in shares of TORM plc (NASDAQ:TRMD) by 65.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,308 shares of the company’s stock after purchasing an additional 151,942 shares during the period. Barclays PLC’s holdings in TORM were worth $13,140,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in shares of TORM in the second quarter valued at $26,000. Assetmark Inc. raised its position in TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after acquiring an additional 516 shares in the last quarter. Fifth Third Bancorp acquired a new stake in TORM in the 2nd quarter valued at about $43,000. Quarry LP bought a new position in shares of TORM during the 3rd quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of TORM in the 2nd quarter worth approximately $78,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

TORM Trading Up 3.7 %

NASDAQ TRMD opened at $19.45 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. TORM plc has a 1 year low of $18.72 and a 1 year high of $40.47. The stock’s 50-day moving average price is $24.87 and its two-hundred day moving average price is $32.40.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.876 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 18.02%. TORM’s dividend payout ratio is currently 45.28%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Fearnley Fonds raised shares of TORM to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group reduced their price objective on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, November 14th.

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.