Tucker Asset Management LLC Buys New Stake in TORM plc (NASDAQ:TRMD)

Tucker Asset Management LLC purchased a new stake in TORM plc (NASDAQ:TRMDFree Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,665 shares of the company’s stock, valued at approximately $81,000.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of TORM during the 4th quarter valued at about $22,306,000. International Assets Investment Management LLC acquired a new stake in TORM during the 4th quarter valued at $2,000,000. DekaBank Deutsche Girozentrale acquired a new stake in TORM during the 3rd quarter valued at $996,000. Tejara Capital Ltd acquired a new position in TORM in the 3rd quarter worth $826,000. Finally, Vanguard Group Inc. lifted its holdings in TORM by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,073,569 shares of the company’s stock worth $29,545,000 after buying an additional 28,478 shares in the last quarter. 73.89% of the stock is owned by hedge funds and other institutional investors.

TORM Stock Down 2.7 %

Shares of TORM stock traded down $0.96 during trading hours on Friday, hitting $33.96. 905,773 shares of the company’s stock traded hands, compared to its average volume of 852,244. TORM plc has a twelve month low of $22.31 and a twelve month high of $38.51. The company has a market cap of $2.77 billion, a PE ratio of 4.55 and a beta of 0.25. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $35.67 and a 200-day simple moving average of $33.84.

TORM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 17.67%. The ex-dividend date of this dividend was Tuesday, May 21st. This is a positive change from TORM’s previous quarterly dividend of $1.36. TORM’s dividend payout ratio (DPR) is 58.71%.

TORM Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding TRMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TORM plc (NASDAQ:TRMDFree Report).

Institutional Ownership by Quarter for TORM (NASDAQ:TRMD)

Receive News & Ratings for TORM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TORM and related companies with MarketBeat.com's FREE daily email newsletter.