Barclays PLC cut its holdings in shares of TORM plc (NASDAQ:TRMD – Free Report) by 38.3% in the third quarter, Holdings Channel reports. The institutional investor owned 290,182 shares of the company’s stock after selling 180,125 shares during the quarter. Barclays PLC’s holdings in TORM were worth $7,986,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of TRMD. Mackenzie Financial Corp acquired a new position in shares of TORM in the third quarter valued at $302,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TORM by 107.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,439 shares of the company’s stock valued at $419,000 after purchasing an additional 8,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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. U S Global Investors Inc. raised its stake in shares of TORM by 108.9% in the third quarter. U S Global Investors Inc. now owns 5,961 shares of the company’s stock valued at $164,000 after purchasing an additional 3,107 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of TORM in the third quarter valued at $129,000.
TORM Stock Performance
Shares of NASDAQ:TRMD opened at $33.99 on Thursday. The business’s fifty day moving average price is $31.73 and its two-hundred day moving average price is $29.10. TORM plc has a fifty-two week low of $22.31 and a fifty-two week high of $37.11. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 4.20 and a beta of 0.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.33 and a quick ratio of 2.09.
TORM Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Wednesday, November 22nd were given a $1.46 dividend. This represents a $5.84 dividend on an annualized basis and a yield of 17.18%. This is a boost from TORM’s previous quarterly dividend of $0.85. The ex-dividend date was Tuesday, November 21st. TORM’s dividend payout ratio is 52.66%.
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.
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