Apollon Wealth Management LLC bought a new position in TORM plc (NASDAQ:TRMD – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,500 shares of the company’s stock, valued at approximately $291,000.
Several other institutional investors and hedge funds have also bought and sold shares of TRMD. Marshall Wace LLP boosted its position in TORM by 860.9% in the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock worth $55,441,000 after purchasing an additional 1,281,176 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of TORM by 320.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after buying an additional 964,801 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of TORM during the 2nd quarter valued at about $9,619,000. International Assets Investment Management LLC purchased a new position in shares of TORM during the 3rd quarter valued at about $7,359,000. Finally, Renaissance Technologies LLC lifted its position in shares of TORM by 38.9% during the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after buying an additional 187,300 shares in the last quarter. 73.89% of the stock is owned by hedge funds and other institutional investors.
TORM Stock Performance
Shares of TRMD opened at $22.85 on Monday. The business’s 50 day moving average is $30.20 and its 200 day moving average is $34.64. TORM plc has a 12-month low of $22.72 and a 12-month 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.
TORM Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be paid a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 15.33%. The ex-dividend date of this dividend is Thursday, November 21st. TORM’s dividend payout ratio (DPR) is presently 68.05%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on TRMD. Fearnley Fonds raised TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI lifted their price objective on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group lowered their price objective on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday.
Read Our Latest Report on TORM
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.
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