TORM (NASDAQ:TRMD) Hits New 52-Week High at $39.64

TORM plc (NASDAQ:TRMD)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $39.64 and last traded at $39.21, with a volume of 180221 shares trading hands. The stock had previously closed at $39.01.

TORM Trading Up 2.5 %

The firm has a market capitalization of $3.27 billion, a PE ratio of 4.94 and a beta of 0.27. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The business’s fifty day moving average price is $36.68 and its 200 day moving average price is $34.71.

TORM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $1.50 per share. The ex-dividend date was Tuesday, May 21st. This is an increase from TORM’s previous quarterly dividend of $1.36. This represents a $6.00 dividend on an annualized basis and a dividend yield of 14.97%. TORM’s payout ratio is 55.30%.

Institutional Investors Weigh In On TORM

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of TORM by 7.9% during the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock worth $41,221,000 after buying an additional 85,937 shares in the last quarter. Norges Bank acquired a new stake in shares of TORM in the fourth quarter worth approximately $22,306,000. Quantbot Technologies LP acquired a new stake in shares of TORM in the first quarter worth approximately $2,836,000. Swiss National Bank boosted its position in shares of TORM by 18.4% in the first quarter. Swiss National Bank now owns 79,609 shares of the company’s stock worth $2,700,000 after acquiring an additional 12,353 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of TORM in the fourth quarter worth approximately $2,000,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

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.