Swiss National Bank Purchases 11,469 Shares of TORM plc (NASDAQ:TRMD)

Swiss National Bank grew its position in TORM plc (NASDAQ:TRMD) by 11.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 113,760 shares of the company’s stock after buying an additional 11,469 shares during the period. Swiss National Bank’s holdings in TORM were worth $2,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of TRMD. Quarry LP acquired a new position in shares of TORM in the third quarter valued at $51,000. Jones Financial Companies Lllp increased its holdings in TORM by 49.5% in the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after buying an additional 1,939 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of TORM in the 3rd quarter valued at $224,000. Apollon Wealth Management LLC lifted its holdings in shares of TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock worth $208,000 after acquiring an additional 2,219 shares during the period. Finally, U S Global Investors Inc. boosted its position in shares of TORM by 26.3% during the 4th quarter. U S Global Investors Inc. now owns 12,620 shares of the company’s stock valued at $245,000 after acquiring an additional 2,625 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

TORM Stock Performance

NASDAQ:TRMD opened at $16.97 on Friday. The firm has a market capitalization of $1.60 billion, a PE ratio of 2.20 and a beta of 0.14. 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 plc has a 12-month low of $16.73 and a 12-month high of $40.47. The firm has a 50-day moving average price of $19.05 and a 200 day moving average price of $23.36.

TORM Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.14%. TORM’s payout ratio is presently 27.43%.

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.