Swiss National Bank Reduces Stock Holdings in TORM plc (NASDAQ:TRMD)

Swiss National Bank reduced its position in TORM plc (NASDAQ:TRMD) by 10.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 67,256 shares of the company’s stock after selling 7,796 shares during the period. Swiss National Bank’s holdings in TORM were worth $2,039,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. PSI Advisors LLC purchased a new position in TORM in the 4th quarter valued at approximately $30,000. Optimum Investment Advisors boosted its stake in TORM by 200.0% during the 4th quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares during the last quarter. Citigroup Inc. raised its position in shares of TORM by 61.5% during the 3rd quarter. Citigroup Inc. now owns 4,990 shares of the company’s stock valued at $136,000 after acquiring an additional 1,900 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in TORM during the third quarter worth about $207,000. Finally, U S Global Investors Inc. lifted its position in TORM by 47.1% in the 4th quarter. U S Global Investors Inc. now owns 8,769 shares of the company’s stock valued at $267,000 after purchasing an additional 2,808 shares during the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

TORM Stock Performance

Shares of TRMD opened at $37.77 on Friday. TORM plc has a 52-week low of $22.31 and a 52-week high of $38.51. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $3.08 billion, a PE ratio of 5.06 and a beta of 0.16. The firm has a 50-day moving average price of $35.08 and a 200 day moving average price of $33.24.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, March 7th. The company reported $1.56 earnings per share for the quarter. TORM had a net margin of 42.64% and a return on equity of 36.99%. The firm had revenue of $387.78 million for the quarter. On average, sell-side analysts anticipate that TORM plc will post 7.35 earnings per share for the current fiscal year.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 22nd will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 15.89%. The ex-dividend date is Tuesday, May 21st. This is a boost from TORM’s previous quarterly dividend of $1.36. TORM’s dividend payout ratio (DPR) is presently 58.71%.

TORM Profile

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.