Arrowstreet Capital Limited Partnership Raises Position in TORM plc (NASDAQ:TRMD)

Arrowstreet Capital Limited Partnership increased its position in shares of TORM plc (NASDAQ:TRMD) by 94.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,366,769 shares of the company’s stock after purchasing an additional 2,115,672 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 4.65% of TORM worth $84,585,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Centiva Capital LP purchased a new position in shares of TORM during the 3rd quarter worth approximately $3,077,000. Exchange Traded Concepts LLC purchased a new position in TORM in the fourth quarter worth $312,000. Franklin Resources Inc. acquired a new stake in TORM in the third quarter valued at $1,047,000. PSI Advisors LLC boosted its position in shares of TORM by 139.8% during the 4th quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock worth $824,000 after purchasing an additional 24,702 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in shares of TORM during the 4th quarter worth $301,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

TORM Stock Performance

Shares of TRMD stock opened at $16.48 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The stock has a market cap of $1.55 billion, a PE ratio of 2.13 and a beta of 0.14. TORM plc has a 1 year low of $16.14 and a 1 year high of $40.47. The stock has a fifty day moving average price of $18.90 and a 200 day moving average price of $22.98.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th will be given a $0.60 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.40 annualized dividend and a dividend yield of 14.56%. TORM’s dividend payout ratio is presently 27.43%.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets cut shares of TORM from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 27th.

TORM Company 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.