XTX Topco Ltd Grows Stock Holdings in TORM plc (NASDAQ:TRMD)

XTX Topco Ltd lifted its stake in TORM plc (NASDAQ:TRMD) by 89.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,651 shares of the company’s stock after acquiring an additional 21,581 shares during the period. XTX Topco Ltd’s holdings in TORM were worth $888,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its holdings in TORM by 94.0% during the 4th 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of TORM by 22.4% in the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock worth $36,417,000 after buying an additional 345,463 shares in the last quarter. Norges Bank bought a new position in shares of TORM in the fourth quarter valued at approximately $21,273,000. 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 valued at $10,929,000 after acquiring an additional 109,916 shares in the last quarter. Finally, Barclays PLC increased its holdings in 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 acquiring an additional 151,942 shares during the period. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Kepler Capital Markets lowered shares of TORM from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 27th.

TORM Stock Up 1.7 %

TRMD stock opened at $15.28 on Thursday. The company’s 50 day moving average is $17.61 and its 200 day moving average is $21.31. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 1.98 and a beta of 0.20. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. TORM plc has a 1-year low of $13.60 and a 1-year high of $40.47.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 15.71%. The ex-dividend date of this dividend was Thursday, March 20th. TORM’s dividend payout ratio (DPR) is currently 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.