Swiss National Bank Raises Stake in TORM plc (NASDAQ:TRMD)

Swiss National Bank grew its stake in TORM plc (NASDAQ:TRMD – Get Rating) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,563 shares of the company’s stock after purchasing an additional 1,606 shares during the period. Swiss National Bank owned about 0.09% of TORM worth $1,984,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TRMD. JPMorgan Chase & Co. purchased a new stake in TORM in the 1st quarter worth approximately $103,000. Citigroup Inc. purchased a new stake in TORM in the 1st quarter worth approximately $148,000. Goldman Sachs Group Inc. boosted its position in TORM by 148.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,443 shares of the company’s stock worth $296,000 after purchasing an additional 19,968 shares in the last quarter. Jane Street Group LLC boosted its position in TORM by 190.7% in the 1st quarter. Jane Street Group LLC now owns 196,065 shares of the company’s stock worth $1,695,000 after purchasing an additional 128,617 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of TORM by 196.3% during the 1st quarter. Bank of America Corp DE now owns 73,443 shares of the company’s stock valued at $651,000 after buying an additional 48,660 shares in the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Danske upgraded TORM from a “hold” rating to a “buy” rating in a research report on Wednesday, May 3rd.

TORM Trading Down 0.9 %

Shares of NASDAQ:TRMD opened at $25.52 on Friday. TORM plc has a 1 year low of $11.00 and a 1 year high of $36.60. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 3.01 and a beta of 0.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.31 and a quick ratio of 3.02. The business’s 50 day moving average price is $30.61 and its 200-day moving average price is $29.85.

TORM (NASDAQ:TRMD – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The company reported $2.79 EPS for the quarter. TORM had a return on equity of 49.23% and a net margin of 43.47%. The firm had revenue of $447.35 million during the quarter.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be paid a $1.46 dividend. The ex-dividend date is Monday, May 22nd. This is an increase from TORM’s previous quarterly dividend of $0.85. This represents a $5.84 dividend on an annualized basis and a dividend yield of 22.88%. TORM’s dividend payout ratio (DPR) is 50.30%.

TORM Profile

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TORM Plc engages in the business of transporting clean and dirty petroleum products. It operates under the Tanker and Marine Exhaust segments. The Tanker segment focuses on the transportation of refined oil products such as gasoline, jet fuel, and naphtha. The Marine Exhaust segment includes developing and producing advanced and green marine equipment.