Franklin Resources Inc. Increases Stock Holdings in TORM plc (NASDAQ:TRMD)

Franklin Resources Inc. grew its holdings in shares of TORM plc (NASDAQ:TRMD) by 86.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,429 shares of the company’s stock after purchasing an additional 28,455 shares during the period. Franklin Resources Inc. owned about 0.07% of TORM worth $1,180,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of TORM by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after buying an additional 505 shares during the period. Jones Financial Companies Lllp increased its position in shares of TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock worth $114,000 after purchasing an additional 1,939 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of TORM by 26.1% in the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock valued at $208,000 after acquiring an additional 2,219 shares during the period. U S Global Investors Inc. grew its position in TORM by 26.3% during the 4th quarter. U S Global Investors Inc. now owns 12,620 shares of the company’s stock worth $245,000 after purchasing an additional 2,625 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its position in TORM by 9.8% in the 4th quarter. CWA Asset Management Group LLC now owns 39,760 shares of the company’s stock valued at $773,000 after acquiring an additional 3,563 shares during the period. Institutional investors and hedge funds own 73.89% of the company’s stock.

TORM Stock Down 2.7 %

TRMD opened at $15.02 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. TORM plc has a 12 month low of $13.60 and a 12 month high of $40.47. The stock has a market capitalization of $1.41 billion, a P/E ratio of 1.94 and a beta of 0.20. The business has a 50 day simple moving average of $17.71 and a 200-day simple moving average of $21.35.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 15.98%. The ex-dividend date was Thursday, March 20th. TORM’s dividend payout ratio (DPR) is currently 27.43%.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets downgraded shares of TORM from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th.

TORM 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.