Geode Capital Management LLC Purchases 840 Shares of TORM plc (NASDAQ:TRMD)

Geode Capital Management LLC increased its holdings in shares of TORM plc (NASDAQ:TRMD) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 82,466 shares of the company’s stock after acquiring an additional 840 shares during the period. Geode Capital Management LLC’s holdings in TORM were worth $1,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRMD. Arrowstreet Capital Limited Partnership lifted its holdings in shares of TORM by 94.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company’s stock worth $84,585,000 after buying an additional 2,115,672 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 last quarter. Norges Bank purchased a new stake in shares of TORM in the fourth quarter worth about $21,273,000. Barclays PLC raised its holdings 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 acquiring 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 valued at $2,929,000 after purchasing an additional 73,240 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on TRMD shares. Kepler Capital Markets downgraded TORM from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 27th. Evercore ISI decreased their price target on TORM from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd.

TORM Trading Up 2.3 %

Shares of TRMD opened at $16.63 on Wednesday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 2.15 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 1-year low of $13.60 and a 1-year high of $40.47. The company has a 50-day moving average of $16.95 and a 200 day moving average of $20.19.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.43%. 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.