Aristides Capital LLC Acquires Shares of 11,100 TORM plc (NASDAQ:TRMD)

Aristides Capital LLC bought a new position in shares of TORM plc (NASDAQ:TRMD) during the 4th quarter, Holdings Channel.com reports. The fund bought 11,100 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership increased its stake in TORM by 94.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company’s stock worth $84,585,000 after acquiring an additional 2,115,672 shares during the period. Norges Bank acquired a new stake in shares of TORM during the 4th quarter worth $21,273,000. Vanguard Group Inc. increased its position in shares of TORM by 22.4% in the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock worth $36,417,000 after purchasing an additional 345,463 shares during the period. Barclays PLC raised its stake in TORM by 65.4% in the third quarter. Barclays PLC now owns 384,308 shares of the company’s stock valued at $13,140,000 after purchasing an additional 151,942 shares in the last quarter. Finally, Platinum Investment Management Ltd. lifted its position in TORM by 92.5% during the fourth 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 during the period. 73.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

TORM Trading Down 6.8 %

Shares of TRMD opened at $13.97 on Monday. 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 52-week low of $13.24 and a 52-week high of $40.47. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 1.81 and a beta of 0.20. The business’s fifty day moving average is $18.58 and its 200-day moving average is $22.43.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 17.18%. The ex-dividend date of this dividend was Thursday, March 20th. TORM’s payout ratio is 27.43%.

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.