Kovack Advisors Inc. Acquires 5,717 Shares of TORM plc (NASDAQ:TRMD)

Kovack Advisors Inc. raised its holdings in TORM plc (NASDAQ:TRMD) by 39.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,188 shares of the company’s stock after purchasing an additional 5,717 shares during the quarter. Kovack Advisors Inc.’s holdings in TORM were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale grew its stake in TORM by 45.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 52,067 shares of the company’s stock valued at $1,579,000 after purchasing an additional 16,360 shares during the period. Vanguard Group Inc. grew its stake in shares of TORM by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,073,569 shares of the company’s stock worth $29,545,000 after acquiring an additional 28,478 shares during the period. Citigroup Inc. grew its stake in shares of TORM by 61.5% during the 3rd quarter. Citigroup Inc. now owns 4,990 shares of the company’s stock worth $136,000 after acquiring an additional 1,900 shares during the period. Venture Visionary Partners LLC bought a new position in shares of TORM during the 4th quarter worth $383,000. Finally, International Assets Investment Management LLC bought a new position in shares of TORM during the 4th quarter worth $2,000,000. Institutional investors own 73.89% of the company’s stock.

TORM Stock Up 1.8 %

TRMD stock opened at $34.65 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.37 and a current ratio of 2.60. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 4.64 and a beta of 0.15. TORM plc has a fifty-two week low of $22.31 and a fifty-two week high of $37.11. The stock has a fifty day moving average of $34.08 and a 200-day moving average of $32.35.

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 business had revenue of $387.78 million for the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Tuesday, April 16th were issued a dividend of $1.36 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $5.44 dividend on an annualized basis and a yield of 15.70%. TORM’s dividend payout ratio (DPR) is 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.