Assetmark Inc. Has $41,000 Stake in TORM plc (NASDAQ:TRMD)

Assetmark Inc. boosted its position in TORM plc (NASDAQ:TRMD) by 76.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,187 shares of the company’s stock after purchasing an additional 516 shares during the period. Assetmark Inc.’s holdings in TORM were worth $41,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. National Bank of Canada FI acquired a new position in shares of TORM in the second quarter valued at approximately $26,000. Fifth Third Bancorp bought a new stake in TORM during the 2nd quarter worth approximately $43,000. Syquant Capital Sas acquired a new position in TORM in the 2nd quarter valued at approximately $46,000. Point72 Hong Kong Ltd bought a new position in shares of TORM during the second quarter valued at $78,000. Finally, SG Americas Securities LLC acquired a new position in shares of TORM during the first quarter worth $115,000. 73.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRMD. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group lowered their price objective on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Evercore ISI upped their target price on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd.

TORM Stock Performance

Shares of TRMD opened at $23.43 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’s fifty day simple moving average is $30.01 and its two-hundred day simple moving average is $34.56. TORM plc has a 12 month low of $22.72 and a 12 month high of $40.47. The stock has a market capitalization of $1.91 billion, a P/E ratio of 3.03 and a beta of 0.27.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be given a dividend of $0.876 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 14.96%. TORM’s payout ratio is 45.28%.

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.