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

TORM plc (NASDAQ:TRMD) shares reached a new 52-week high during trading on Wednesday . The company 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 cap of $3.27 billion, a P/E ratio of 4.94 and a beta of 0.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.60 and a quick ratio of 2.37. The stock has a 50 day moving average of $36.68 and a 200 day moving average of $34.71.

TORM Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake 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 valued at $41,221,000 after buying an additional 85,937 shares during the last quarter. Norges Bank bought a new stake in shares of TORM in the fourth quarter worth about $22,306,000. Quantbot Technologies LP bought a new stake in shares of TORM in the first quarter worth about $2,836,000. Swiss National Bank grew its stake 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 purchasing an additional 12,353 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of TORM in the fourth quarter worth about $2,000,000. 73.89% of the stock is owned by institutional investors.

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.