Citigroup Inc. Acquires 98,801 Shares of TORM plc (NASDAQ:TRMD)

Citigroup Inc. increased its holdings in shares of TORM plc (NASDAQ:TRMD – Get Rating) by 213.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 145,128 shares of the company’s stock after buying an additional 98,801 shares during the quarter. Citigroup Inc.’s holdings in TORM were worth $4,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TRMD. Lazard Asset Management LLC purchased a new position in shares of TORM in the 3rd quarter worth about $59,000. JPMorgan Chase & Co. purchased a new position in shares of TORM in the 1st quarter worth about $103,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TORM by 42.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,432 shares of the company’s stock worth $111,000 after purchasing an additional 1,626 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of TORM in the 2nd quarter worth about $155,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of TORM in the 2nd quarter worth about $162,000. 77.29% of the stock is currently owned by institutional investors.

TORM Trading Up 3.5 %

Shares of TRMD stock opened at $28.39 on Monday. The stock has a market capitalization of $2.31 billion, a PE ratio of 3.35 and a beta of 0.42. TORM plc has a 1-year low of $11.00 and a 1-year high of $36.60. The business has a 50-day moving average of $31.18 and a 200 day moving average of $29.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.31 and a quick ratio of 3.02.

TORM (NASDAQ:TRMD – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The company reported $2.79 earnings per share for the quarter. TORM had a return on equity of 49.23% and a net margin of 43.47%. The business had revenue of $447.35 million during the quarter.

TORM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be issued a $1.46 dividend. The ex-dividend date is Monday, May 22nd. This represents a $5.84 annualized dividend and a yield of 20.57%. This is a boost from TORM’s previous quarterly dividend of $0.85. TORM’s dividend payout ratio (DPR) is 89.26%.

Analysts Set New Price Targets

Separately, Danske upgraded TORM from a “hold” rating to a “buy” rating in a report on Wednesday, May 3rd.

About TORM

(Get Rating)

TORM Plc engages in the business of transporting clean and dirty petroleum products. It operates under the Tanker and Marine Exhaust segments. The Tanker segment focuses on the transportation of refined oil products such as gasoline, jet fuel, and naphtha. The Marine Exhaust segment includes developing and producing advanced and green marine equipment.