TORM plc (NASDAQ:TRMD – Get Free Report) declared a quarterly dividend on Friday, November 10th, NASDAQ reports. Stockholders of record on Wednesday, November 22nd will be paid a dividend of 1.46 per share on Tuesday, December 5th. This represents a $5.84 annualized dividend and a dividend yield of 17.64%. The ex-dividend date is Tuesday, November 21st. This is a boost from TORM’s previous quarterly dividend of $0.85.
TORM has a dividend payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings.
TORM Trading Up 5.0 %
Shares of NASDAQ TRMD opened at $33.11 on Monday. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $28.64 and its two-hundred day moving average price is $26.55. TORM has a 52-week low of $22.31 and a 52-week high of $36.60. The stock has a market capitalization of $2.70 billion, a P/E ratio of 4.09 and a beta of 0.31.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of TRMD. Credit Suisse AG grew its holdings in shares of TORM by 1.7% during the fourth quarter. Credit Suisse AG now owns 22,583 shares of the company’s stock valued at $4,480,000 after purchasing an additional 377 shares during the last quarter. Geode Capital Management LLC increased its position in TORM by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 71,485 shares of the company’s stock valued at $2,225,000 after acquiring an additional 616 shares during the period. Advisor Group Holdings Inc. raised its stake in TORM by 58.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock valued at $71,000 after acquiring an additional 889 shares in the last quarter. Deutsche Bank AG grew its stake in shares of TORM by 7.3% in the first quarter. Deutsche Bank AG now owns 17,170 shares of the company’s stock worth $535,000 after purchasing an additional 1,172 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of TORM by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 95,733 shares of the company’s stock valued at $2,943,000 after purchasing an additional 1,379 shares during the period.
TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. It operates in two operating segments, Tanker and Marine Exhaust. The company transports gasoline, jet fuel, naphtha, and gas oil, as well as dirty petroleum products, such as fuel oil. It also engages in developing and producing advanced and green marine equipment.
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