Ramirez Asset Management Inc. Decreases Stock Holdings in TORM plc (NASDAQ:TRMD)

Ramirez Asset Management Inc. cut its holdings in TORM plc (NASDAQ:TRMD) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,315 shares of the company’s stock after selling 11,215 shares during the period. Ramirez Asset Management Inc. owned about 0.17% of TORM worth $3,098,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Centiva Capital LP bought a new position in TORM in the third quarter worth approximately $3,077,000. Exchange Traded Concepts LLC purchased a new stake in shares of TORM during the fourth quarter valued at about $312,000. Franklin Resources Inc. purchased a new stake in shares of TORM during the third quarter valued at about $1,047,000. PSI Advisors LLC boosted its holdings in shares of TORM by 139.8% in the 4th quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock valued at $824,000 after buying an additional 24,702 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new position in shares of TORM in the 4th quarter worth approximately $301,000. 73.89% of the stock is owned by institutional investors.

TORM Stock Performance

Shares of TRMD stock opened at $16.97 on Friday. 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 has a market cap of $1.60 billion, a PE ratio of 2.20 and a beta of 0.14. TORM plc has a 12-month low of $16.73 and a 12-month high of $40.47. The business’s fifty day simple moving average is $19.05 and its 200-day simple moving average is $23.36.

TORM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.60 per share. 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 payout ratio is 27.43%.

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.