TORM plc (NASDAQ:TRMD) Stake Increased by CWA Asset Management Group LLC

CWA Asset Management Group LLC increased its holdings in shares of TORM plc (NASDAQ:TRMD) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,760 shares of the company’s stock after buying an additional 3,563 shares during the quarter. CWA Asset Management Group LLC’s holdings in TORM were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. National Bank of Canada FI acquired a new position in TORM in the 2nd quarter valued at approximately $26,000. State of New Jersey Common Pension Fund D acquired a new position in shares of TORM during the 2nd quarter worth $1,658,000. Renaissance Technologies LLC raised its holdings 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 purchasing an additional 187,300 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of TORM by 7.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock valued at $433,000 after purchasing an additional 811 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of TORM in the 2nd quarter valued at $9,619,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

TORM Stock Performance

TRMD opened at $21.28 on Wednesday. TORM plc has a 12-month low of $17.77 and a 12-month high of $40.47. The firm has a market capitalization of $1.73 billion, a P/E ratio of 2.75 and a beta of 0.23. The stock’s 50 day moving average price is $21.32 and its two-hundred day moving average price is $30.40. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.

TORM Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were given a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a yield of 16.47%. The ex-dividend date was Thursday, November 21st. TORM’s dividend payout ratio (DPR) is currently 45.28%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group reduced their target price on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

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.