Mackenzie Financial Corp Acquires 16,992 Shares of TORM plc (NASDAQ:TRMD)

Mackenzie Financial Corp boosted its holdings in TORM plc (NASDAQ:TRMD) by 147.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,494 shares of the company’s stock after buying an additional 16,992 shares during the period. Mackenzie Financial Corp’s holdings in TORM were worth $864,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in shares of TORM during the third quarter valued at approximately $341,000. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 1,144 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 acquiring an additional 8,000 shares during the period. Swiss National Bank grew its position in TORM by 15.5% in the third quarter. Swiss National Bank now owns 75,052 shares of the company’s stock valued at $2,037,000 after acquiring an additional 10,081 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in TORM by 4.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,496 shares of the company’s stock valued at $316,000 after acquiring an additional 484 shares during the period. 73.89% of the stock is owned by institutional investors.

TORM Stock Performance

Shares of NASDAQ:TRMD opened at $34.03 on Friday. The business’s fifty day moving average price is $34.07 and its two-hundred day moving average price is $32.27. 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 4.56 and a beta of 0.15. 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 announced its quarterly earnings results on Thursday, March 7th. The company reported $1.56 earnings per share for the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%. The firm had revenue of $387.78 million for the quarter.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Tuesday, April 16th were paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 15.99%. The ex-dividend date of this dividend was Monday, April 15th. TORM’s dividend payout ratio is currently 53.22%.

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.