TORM (NASDAQ:TRMD) Shares Gap Up to $34.79

TORM plc (NASDAQ:TRMD)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $34.79, but opened at $35.80. TORM shares last traded at $36.10, with a volume of 260,666 shares traded.

TORM Trading Down 1.4 %

The firm has a market capitalization of $2.88 billion, a PE ratio of 4.74 and a beta of 0.15. The stock’s 50-day moving average price is $34.25 and its 200 day moving average price is $31.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.60 and a quick ratio of 2.37.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, March 7th. The company reported $1.56 earnings per share (EPS) for the quarter. The company had revenue of $387.78 million for the quarter. TORM had a net margin of 42.64% and a return on equity of 36.99%.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Tuesday, April 16th will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 15.40%. The ex-dividend date of this dividend is Monday, April 15th. TORM’s payout ratio is 57.10%.

Hedge Funds Weigh In On TORM

Several institutional investors and hedge funds have recently bought and sold shares of TRMD. Credit Suisse AG lifted its stake in shares of TORM by 1.7% during the fourth quarter. Credit Suisse AG now owns 22,583 shares of the company’s stock worth $4,480,000 after buying an additional 377 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of TORM by 4.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,496 shares of the company’s stock worth $316,000 after buying an additional 484 shares during the period. Geode Capital Management LLC lifted its stake in shares of TORM by 0.9% during the first quarter. Geode Capital Management LLC now owns 71,485 shares of the company’s stock worth $2,225,000 after buying an additional 616 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of TORM during the fourth quarter worth $27,000. Finally, Advisor Group Holdings Inc. lifted its stake in shares of TORM by 58.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock worth $71,000 after buying an additional 889 shares during the period. 73.89% of the stock is owned by hedge funds and other institutional investors.

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.