Natixis Advisors LLC Takes Position in TORM plc (NASDAQ:TRMD)

Natixis Advisors LLC purchased a new stake in TORM plc (NASDAQ:TRMD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,358 shares of the company’s stock, valued at approximately $730,000.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of TORM by 7.9% in the 1st 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 in the last quarter. Virtu Financial LLC bought a new stake in shares of TORM in the 1st quarter valued at $598,000. DekaBank Deutsche Girozentrale increased its position in shares of TORM by 11.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 58,000 shares of the company’s stock valued at $1,971,000 after buying an additional 5,933 shares in the last quarter. Syquant Capital Sas bought a new stake in shares of TORM in the 2nd quarter valued at $46,000. Finally, Lion Street Advisors LLC bought a new stake in shares of TORM in the 2nd quarter valued at $216,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on TRMD shares. Jefferies Financial Group lowered their price objective on shares of TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th.

TORM Price Performance

Shares of NASDAQ TRMD opened at $21.09 on Thursday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 2.73 and a beta of 0.27. The business has a 50-day moving average of $28.29 and a 200-day moving average of $33.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. TORM plc has a fifty-two week low of $20.69 and a fifty-two week high of $40.47.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be issued a $0.876 dividend. This represents a $3.50 annualized dividend and a dividend yield of 16.61%. The ex-dividend date is Thursday, November 21st. 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.