25,803 Shares in TORM plc (NASDAQ:TRMD) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in TORM plc (NASDAQ:TRMD) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 25,803 shares of the company’s stock, valued at approximately $882,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall Wace LLP increased its stake in shares of TORM by 860.9% in the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after buying an additional 1,281,176 shares in the last quarter. Acadian Asset Management LLC increased its position in TORM by 320.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after acquiring an additional 964,801 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of TORM in the second quarter worth about $9,619,000. International Assets Investment Management LLC acquired a new position in shares of TORM during the third quarter worth approximately $7,359,000. Finally, Renaissance Technologies LLC increased its holdings in shares of TORM by 38.9% in the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after purchasing an additional 187,300 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Fearnley Fonds upgraded TORM to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group dropped their price objective on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

TORM Stock Performance

Shares of TORM stock opened at $21.09 on Thursday. TORM plc has a 52 week low of $20.69 and a 52 week high of $40.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 2.73 and a beta of 0.27. The firm has a fifty day moving average of $28.29 and a two-hundred day moving average of $33.92.

TORM Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a yield of 16.61%. The ex-dividend date is Thursday, November 21st. TORM’s dividend payout ratio (DPR) is currently 45.28%.

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.