TORM plc (NASDAQ:TRMD) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its stake in shares of TORM plc (NASDAQ:TRMD) by 94.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,366,769 shares of the company’s stock after buying an additional 2,115,672 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in TORM were worth $84,585,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Centiva Capital LP acquired a new stake in shares of TORM during the third quarter valued at $3,077,000. Exchange Traded Concepts LLC purchased a new position in TORM in the 4th quarter valued at about $312,000. Franklin Resources Inc. acquired a new stake in shares of TORM during the 3rd quarter worth about $1,047,000. PSI Advisors LLC grew its holdings in shares of TORM by 139.8% during the fourth quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock worth $824,000 after buying an additional 24,702 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in shares of TORM in the fourth quarter valued at approximately $301,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

TORM Stock Down 2.3 %

Shares of NASDAQ:TRMD opened at $16.48 on Tuesday. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 2.13 and a beta of 0.14. The stock’s 50-day moving average price is $18.90 and its two-hundred day moving average price is $22.98. TORM plc has a 12-month low of $16.14 and a 12-month high of $40.47.

TORM Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.40 annualized dividend and a dividend yield of 14.56%. TORM’s dividend payout ratio is presently 27.43%.

Analyst Ratings Changes

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

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.