PSI Advisors LLC Acquires 24,702 Shares of TORM plc (NASDAQ:TRMD)

PSI Advisors LLC increased its holdings in TORM plc (NASDAQ:TRMD) by 139.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,367 shares of the company’s stock after purchasing an additional 24,702 shares during the period. PSI Advisors LLC’s holdings in TORM were worth $824,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TRMD. National Bank of Canada FI bought a new stake in shares of TORM during the 2nd quarter worth $26,000. Assetmark Inc. boosted its holdings in TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after acquiring an additional 516 shares during the period. Quarry LP acquired a new stake in shares of TORM in the third quarter valued at about $51,000. Point72 Hong Kong Ltd bought a new position in shares of TORM in the second quarter worth about $78,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of TORM during the 3rd quarter worth about $224,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TRMD shares. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group decreased their price target on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

TORM Stock Up 4.0 %

Shares of TRMD stock opened at $23.06 on Tuesday. TORM plc has a one year low of $17.77 and a one year high of $40.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The stock has a fifty day moving average price of $21.00 and a 200 day moving average price of $29.94. The stock has a market cap of $1.88 billion, a P/E ratio of 2.98 and a beta of 0.23.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were given a dividend of $0.876 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 15.20%. TORM’s dividend payout ratio (DPR) is currently 45.28%.

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.