TORM (NASDAQ:TRMD) Shares Gap Down to $34.34

TORM plc (NASDAQ:TRMD)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $34.34, but opened at $33.08. TORM shares last traded at $33.29, with a volume of 382,892 shares traded.

TORM Price Performance

The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 4.45 and a beta of 0.15. 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 company has a 50 day simple moving average of $34.20 and a 200 day simple moving average of $32.03.

TORM (NASDAQ:TRMD) last announced its quarterly earnings results on Thursday, March 7th. The company reported $1.56 EPS for the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%. The company had revenue of $387.78 million during the quarter.

TORM Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Tuesday, April 16th will be paid a $1.36 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 16.37%. TORM’s dividend payout ratio (DPR) is currently 53.22%.

Institutional Investors Weigh In On TORM

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale grew its stake in shares of TORM by 45.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 52,067 shares of the company’s stock valued at $1,579,000 after buying an additional 16,360 shares in the last quarter. Vanguard Group Inc. lifted its holdings in TORM by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,073,569 shares of the company’s stock worth $29,545,000 after buying an additional 28,478 shares during the last quarter. Citigroup Inc. lifted its holdings in TORM by 61.5% during the 3rd quarter. Citigroup Inc. now owns 4,990 shares of the company’s stock worth $136,000 after buying an additional 1,900 shares during the last quarter. Venture Visionary Partners LLC bought a new position in TORM during the 4th quarter worth approximately $383,000. Finally, O Shaughnessy Asset Management LLC bought a new position in TORM during the 3rd quarter worth approximately $207,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

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.