Platinum Investment Management Ltd. Grows Stock Holdings in TORM plc (NASDAQ:TRMD)

Platinum Investment Management Ltd. raised its position in TORM plc (NASDAQ:TRMD) by 92.5% in the 4th quarter, Holdings Channel reports. The firm owned 152,439 shares of the company’s stock after buying an additional 73,240 shares during the quarter. Platinum Investment Management Ltd.’s holdings in TORM were worth $2,929,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TRMD. Geode Capital Management LLC increased its stake in TORM by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock worth $2,791,000 after purchasing an additional 505 shares during the period. Assetmark Inc. raised its stake in TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after buying an additional 516 shares during the last quarter. Quarry LP purchased a new position in shares of TORM in the third quarter worth $51,000. Jones Financial Companies Lllp increased its position in TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after acquiring an additional 1,939 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its position in TORM by 26.1% during 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 last quarter. 73.89% of the stock is owned by institutional investors.

TORM Stock Performance

NASDAQ:TRMD opened at $19.40 on Wednesday. The firm has a market capitalization of $1.82 billion, a PE ratio of 2.51 and a beta of 0.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The stock has a 50-day simple moving average of $19.54 and a two-hundred day simple moving average of $23.98. TORM plc has a 52-week low of $16.76 and a 52-week high of $40.47.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 12.37%. The ex-dividend date of this dividend is Thursday, March 20th. TORM’s payout ratio is presently 27.43%.

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.