LPL Financial LLC Sells 2,983 Shares of TORM plc (NASDAQ:TRMD)

LPL Financial LLC reduced its stake in TORM plc (NASDAQ:TRMD) by 4.5% in the 4th quarter, Holdings Channel reports. The firm owned 63,094 shares of the company’s stock after selling 2,983 shares during the period. LPL Financial LLC’s holdings in TORM were worth $1,227,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after acquiring an additional 1,939 shares during the period. Apollon Wealth Management LLC boosted its position in shares of TORM by 26.1% in the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock valued at $208,000 after acquiring an additional 2,219 shares during the period. U S Global Investors Inc. grew its stake in shares of TORM by 26.3% in the fourth quarter. U S Global Investors Inc. now owns 12,620 shares of the company’s stock worth $245,000 after acquiring an additional 2,625 shares during the last quarter. Fox Run Management L.L.C. bought a new position in TORM during the fourth quarter worth $293,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of TORM in the fourth quarter valued at about $301,000. 73.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TORM Stock Up 2.1 %

Shares of TRMD opened at $15.60 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The company has a market capitalization of $1.47 billion, a P/E ratio of 2.02 and a beta of 0.20. The business’s 50 day simple moving average is $17.43 and its 200-day simple moving average is $21.07. TORM plc has a one year low of $13.60 and a one year high of $40.47.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were given a $0.60 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a yield of 15.38%. 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.