18,272 Shares in TORM plc (NASDAQ:TRMD) Purchased by Diametric Capital LP

Diametric Capital LP acquired a new stake in TORM plc (NASDAQ:TRMD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,272 shares of the company’s stock, valued at approximately $355,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TRMD. Thrivent Financial for Lutherans purchased a new stake in TORM in the 3rd quarter worth $224,000. Holocene Advisors LP purchased a new position in TORM in the 3rd quarter worth approximately $1,710,000. Quarry LP acquired a new position in shares of TORM during the 3rd quarter worth approximately $51,000. Soros Fund Management LLC purchased a new stake in shares of TORM in the third quarter valued at approximately $3,419,000. Finally, Two Sigma Advisers LP increased its holdings in shares of TORM by 2.6% in the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock valued at $43,315,000 after purchasing an additional 32,500 shares during the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets lowered TORM from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 27th.

TORM Stock Performance

TORM stock opened at $16.45 on Wednesday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 2.13 and a beta of 0.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The firm has a 50 day simple moving average of $18.84 and a 200-day simple moving average of $22.86. TORM plc has a 1-year low of $16.14 and a 1-year high of $40.47.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.40 annualized dividend and a yield of 14.59%. TORM’s dividend payout ratio (DPR) is 27.43%.

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.