Citigroup Inc. Raises Stake in TORM plc (NASDAQ:TRMD)

Citigroup Inc. raised its stake in TORM plc (NASDAQ:TRMDFree Report) by 61.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,990 shares of the company’s stock after buying an additional 1,900 shares during the period. Citigroup Inc.’s holdings in TORM were worth $136,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. lifted its stake in shares of TORM by 58.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock valued at $71,000 after purchasing an additional 889 shares during the last quarter. Royal Bank of Canada acquired a new position in TORM during the 2nd quarter worth about $88,000. JPMorgan Chase & Co. acquired a new position in TORM during the 1st quarter worth about $103,000. Counterpoint Mutual Funds LLC acquired a new position in TORM during the 3rd quarter worth about $129,000. Finally, PNC Financial Services Group Inc. acquired a new position in TORM during the 2nd quarter worth about $138,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

TORM Price Performance

TRMD opened at $34.95 on Friday. The stock’s 50-day moving average price is $34.32 and its 200 day moving average price is $31.30. TORM plc has a 12-month low of $22.31 and a 12-month high of $37.11. The company has a current ratio of 2.60, a quick ratio of 2.37 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 4.68 and a beta of 0.16.

TORM (NASDAQ:TRMDGet Free Report) last posted its earnings results on Thursday, March 7th. The company reported $1.56 earnings per share (EPS) for the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%. The firm had revenue of $387.78 million for the quarter.

TORM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Tuesday, April 16th will be given a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 15.57%. The ex-dividend date of this dividend is Monday, April 15th. TORM’s dividend payout ratio is currently 57.10%.

About TORM

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TRMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TORM plc (NASDAQ:TRMDFree Report).

Institutional Ownership by Quarter for TORM (NASDAQ:TRMD)

Receive News & Ratings for TORM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TORM and related companies with MarketBeat.com's FREE daily email newsletter.