TORM plc (NASDAQ:TRMD) Shares Sold by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. lowered its holdings in TORM plc (NASDAQ:TRMD) by 6.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,315 shares of the company’s stock after selling 11,215 shares during the period. Ramirez Asset Management Inc.’s holdings in TORM were worth $3,098,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in TORM by 22.4% in the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock valued at $36,417,000 after buying an additional 345,463 shares during the last quarter. Two Sigma Advisers LP increased its stake in TORM by 2.6% in the 3rd quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock valued at $43,315,000 after purchasing an additional 32,500 shares in the last quarter. Norges Bank acquired a new stake in TORM in the fourth quarter valued at $21,273,000. Barclays PLC raised its stake in shares of TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company’s stock worth $13,140,000 after buying an additional 151,942 shares during the last quarter. Finally, Platinum Investment Management Ltd. increased its stake in shares of TORM by 92.5% during the 4th quarter. Platinum Investment Management Ltd. now owns 152,439 shares of the company’s stock worth $2,929,000 after purchasing an additional 73,240 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company’s stock.

TORM Stock Performance

Shares of TRMD opened at $16.97 on Friday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 2.20 and a beta of 0.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. TORM plc has a 1 year low of $16.73 and a 1 year high of $40.47. The company’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $23.36.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.14%. TORM’s dividend payout ratio (DPR) is 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.