DekaBank Deutsche Girozentrale Boosts Position in TORM plc (NASDAQ:TRMD)

DekaBank Deutsche Girozentrale boosted its holdings in TORM plc (NASDAQ:TRMD) by 45.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 52,067 shares of the company’s stock after purchasing an additional 16,360 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in TORM were worth $1,579,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TRMD. Credit Suisse AG grew its position in TORM by 1.7% in the fourth quarter. Credit Suisse AG now owns 22,583 shares of the company’s stock valued at $4,480,000 after acquiring an additional 377 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in TORM by 4.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,496 shares of the company’s stock valued at $316,000 after acquiring an additional 484 shares in the last quarter. Geode Capital Management LLC grew its position in TORM by 0.9% in the first quarter. Geode Capital Management LLC now owns 71,485 shares of the company’s stock valued at $2,225,000 after acquiring an additional 616 shares in the last quarter. Advisor Group Holdings Inc. grew its position in TORM by 58.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock valued at $71,000 after acquiring an additional 889 shares in the last quarter. Finally, Optimum Investment Advisors grew its position in TORM by 200.0% in the fourth quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company’s stock.

TORM Stock Down 1.4 %

Shares of NASDAQ:TRMD opened at $35.33 on Monday. 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 plc has a 52-week low of $22.31 and a 52-week high of $37.11. The company has a 50 day moving average of $34.25 and a two-hundred day moving average of $31.95. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 4.74 and a beta of 0.15.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, March 7th. The company reported $1.56 earnings per share (EPS) for the quarter. TORM had a net margin of 42.64% and a return on equity of 36.99%. The company had revenue of $387.78 million during the quarter.

TORM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Tuesday, April 16th will be given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 15.40%. The ex-dividend date is Monday, April 15th. TORM’s payout ratio is currently 57.10%.

About TORM

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.