Sei Investments Co. Trims Stock Holdings in TORM plc (NASDAQ:TRMD)

Sei Investments Co. lessened its stake in shares of TORM plc (NASDAQ:TRMD) by 49.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 50,359 shares of the company’s stock after selling 48,348 shares during the quarter. Sei Investments Co.’s holdings in TORM were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Virtu Financial LLC acquired a new position in TORM during the fourth quarter worth $607,000. Platinum Investment Management Ltd. boosted its position in TORM by 92.5% in the 4th quarter. Platinum Investment Management Ltd. now owns 152,439 shares of the company’s stock valued at $2,929,000 after buying an additional 73,240 shares during the period. Midwest Professional Planners LTD. raised its stake in shares of TORM by 26.0% in the fourth quarter. Midwest Professional Planners LTD. now owns 66,627 shares of the company’s stock valued at $1,296,000 after acquiring an additional 13,756 shares in the last quarter. Swiss National Bank grew its stake in TORM by 11.2% during the 4th quarter. Swiss National Bank now owns 113,760 shares of the company’s stock worth $2,191,000 after purchasing an additional 11,469 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of TORM in the 4th quarter valued at about $1,093,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

TORM Stock Performance

Shares of TORM stock opened at $14.85 on Tuesday. The firm has a market capitalization of $1.40 billion, a P/E ratio of 1.92 and a beta of 0.20. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. TORM plc has a 52 week low of $13.60 and a 52 week high of $40.47. The firm’s 50 day moving average is $18.49 and its two-hundred day moving average is $22.27.

TORM Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.40 annualized dividend and a yield of 16.16%. TORM’s dividend payout ratio is currently 27.43%.

Analyst Ratings Changes

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

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.