Vanguard Group Inc. Boosts Holdings in TORM plc (NASDAQ:TRMD)

Vanguard Group Inc. raised its holdings in TORM plc (NASDAQ:TRMD) by 2.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,073,569 shares of the company’s stock after acquiring an additional 28,478 shares during the period. Vanguard Group Inc.’s holdings in TORM were worth $29,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Credit Suisse AG grew its holdings in shares of TORM by 1.7% during the 4th quarter. Credit Suisse AG now owns 22,583 shares of the company’s stock worth $4,480,000 after purchasing an additional 377 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of TORM by 4.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,496 shares of the company’s stock worth $316,000 after purchasing an additional 484 shares during the period. Geode Capital Management LLC grew its holdings in shares of TORM by 0.9% during the 1st quarter. Geode Capital Management LLC now owns 71,485 shares of the company’s stock worth $2,225,000 after purchasing an additional 616 shares during the period. Advisor Group Holdings Inc. grew its holdings in shares of TORM by 58.6% during the 4th 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. Finally, Bank of New York Mellon Corp boosted its holdings in TORM by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 99,813 shares of the company’s stock worth $2,747,000 after acquiring an additional 1,144 shares during the period. Hedge funds and other institutional investors own 73.89% of the company’s stock.

TORM Stock Up 3.0 %

NASDAQ TRMD opened at $35.83 on Friday. The business has a 50 day moving average price of $34.22 and a two-hundred day moving average price of $31.84. TORM plc has a fifty-two week low of $22.31 and a fifty-two week high of $37.11. The stock has a market cap of $2.92 billion, a PE ratio of 4.80 and a beta of 0.15. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.53.

TORM (NASDAQ:TRMD) last announced 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 company had revenue of $387.78 million for the quarter.

TORM Cuts Dividend

The firm also recently announced 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 dividend yield of 15.18%. The ex-dividend date of this dividend is Monday, April 15th. TORM’s payout ratio is 53.22%.

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.