Jump Financial LLC Boosts Stake in TORM plc (NASDAQ:TRMD)

Jump Financial LLC increased its holdings in shares of TORM plc (NASDAQ:TRMD) by 310.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,173 shares of the company’s stock after acquiring an additional 18,282 shares during the quarter. Jump Financial LLC’s holdings in TORM were worth $470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its position in shares of TORM by 94.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company’s stock valued at $84,585,000 after acquiring an additional 2,115,672 shares during the period. Norges Bank bought a new stake in TORM in the 4th quarter valued at about $21,273,000. Vanguard Group Inc. lifted its holdings in TORM by 22.4% during the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock valued at $36,417,000 after purchasing an additional 345,463 shares during the last quarter. Barclays PLC boosted its position in TORM by 65.4% during the third quarter. Barclays PLC now owns 384,308 shares of the company’s stock worth $13,140,000 after purchasing an additional 151,942 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of TORM by 24.3% in the fourth quarter. Renaissance Technologies LLC now owns 561,889 shares of the company’s stock valued at $10,929,000 after purchasing an additional 109,916 shares during the period. Hedge funds and other institutional investors own 73.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRMD. Evercore ISI reduced their price objective on shares of TORM from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday. Kepler Capital Markets cut TORM from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 27th.

TORM Stock Up 2.1 %

Shares of NASDAQ:TRMD opened at $16.06 on Friday. The firm has a fifty day moving average price of $17.12 and a two-hundred day moving average price of $20.59. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 2.08 and a beta of 0.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. TORM plc has a one year low of $13.60 and a one year high of $40.47.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 14.94%. The ex-dividend date of this dividend was Thursday, March 20th. TORM’s payout ratio 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.