Ibex Wealth Advisors Takes Position in TORM plc (NASDAQ:TRMD)

Ibex Wealth Advisors purchased a new position in TORM plc (NASDAQ:TRMD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 15,934 shares of the company’s stock, valued at approximately $496,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRMD. Credit Suisse AG raised its stake in TORM by 1.7% during the fourth quarter. Credit Suisse AG now owns 22,583 shares of the company’s stock valued at $4,480,000 after buying an additional 377 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in TORM by 58.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock worth $71,000 after purchasing an additional 889 shares during the period. Bank of New York Mellon Corp increased its stake in TORM by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 95,733 shares of the company’s stock valued at $2,943,000 after purchasing an additional 1,379 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of TORM by 10.5% during the fourth quarter. Deutsche Bank AG now owns 15,998 shares of the company’s stock worth $467,000 after purchasing an additional 1,515 shares during the period. Finally, Swiss National Bank lifted its position in shares of TORM by 2.4% in the 4th quarter. Swiss National Bank now owns 69,563 shares of the company’s stock worth $1,984,000 after buying an additional 1,606 shares during the last quarter.

TORM Price Performance

Shares of NASDAQ:TRMD opened at $25.45 on Monday. The company has a market cap of $2.07 billion, a PE ratio of 2.74 and a beta of 0.43. TORM plc has a fifty-two week low of $18.49 and a fifty-two week high of $36.60. The firm has a 50-day simple moving average of $25.06 and a 200 day simple moving average of $27.99. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.55.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, August 28th. This is a positive change from TORM’s previous quarterly dividend of $0.85. This represents a $6.00 annualized dividend and a dividend yield of 23.58%. TORM’s dividend payout ratio is 47.10%.

TORM Profile

TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. It operates in two operating segments, Tanker and Marine Exhaust. The company transports gasoline, jet fuel, naphtha, and gas oil, as well as dirty petroleum products, such as fuel oil. It also engages in developing and producing advanced and green marine equipment.