TORM (NASDAQ:TRMD) Shares Gap Down to $33.75

Shares of TORM plc (NASDAQ:TRMD) gapped down prior to trading on Tuesday . The stock had previously closed at $33.75, but opened at $31.91. TORM shares last traded at $31.25, with a volume of 145,243 shares trading hands.

TORM Stock Down 7.5 %

The firm has a 50 day moving average of $28.81 and a 200 day moving average of $26.58. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 3.85 and a beta of 0.31. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.55.

TORM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Wednesday, November 22nd will be paid a dividend of $1.46 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $5.84 annualized dividend and a yield of 18.70%. This is a boost from TORM’s previous quarterly dividend of $0.85. TORM’s dividend payout ratio (DPR) is currently 52.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Credit Suisse AG boosted its holdings in TORM by 1.7% in the fourth quarter. Credit Suisse AG now owns 22,583 shares of the company’s stock worth $4,480,000 after acquiring an additional 377 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in TORM by 4.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,496 shares of the company’s stock worth $316,000 after acquiring an additional 484 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of TORM by 0.9% in the first quarter. Geode Capital Management LLC now owns 71,485 shares of the company’s stock valued at $2,225,000 after purchasing an additional 616 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in shares of TORM by 58.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock valued at $71,000 after purchasing an additional 889 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of TORM by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 99,813 shares of the company’s stock valued at $2,747,000 after purchasing an additional 1,144 shares in the last quarter.

TORM Company Profile

TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. It operates in two operating segments, Tanker and Marine Exhaust. The company transports gasoline, jet fuel, naphtha, and gas oil, as well as dirty petroleum products, such as fuel oil. It also engages in developing and producing advanced and green marine equipment.