TORM plc (NASDAQ:TRMD) Sees Large Decrease in Short Interest

TORM plc (NASDAQ:TRMD) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 3,890,000 shares, a drop of 24.8% from the February 28th total of 5,170,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 3.4 days. Approximately 7.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets cut shares of TORM from a “hold” rating to a “strong sell” rating in a report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TRMD. Mackenzie Financial Corp lifted its stake in TORM by 225.7% during the fourth quarter. Mackenzie Financial Corp now owns 36,177 shares of the company’s stock worth $704,000 after purchasing an additional 25,071 shares during the last quarter. Millennium Management LLC boosted its stake in TORM by 439.0% in the fourth quarter. Millennium Management LLC now owns 430,399 shares of the company’s stock worth $8,371,000 after buying an additional 350,555 shares in the last quarter. Deutsche Bank AG grew its position in TORM by 14.2% during the fourth quarter. Deutsche Bank AG now owns 88,381 shares of the company’s stock valued at $1,719,000 after acquiring an additional 10,970 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of TORM by 104.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 32,071 shares of the company’s stock worth $624,000 after acquiring an additional 16,360 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new stake in shares of TORM in the 4th quarter worth approximately $270,000. Institutional investors own 73.89% of the company’s stock.

TORM Stock Down 0.6 %

TRMD stock opened at $16.87 on Monday. TORM has a 1-year low of $16.50 and a 1-year high of $40.47. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 2.18 and a beta of 0.14. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $18.98 and its 200 day moving average is $23.11.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 14.23%. The ex-dividend date is Thursday, March 20th. TORM’s dividend payout ratio (DPR) is currently 27.43%.

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.