TORM (NASDAQ:TRMD) Sees Unusually-High Trading Volume

TORM plc (NASDAQ:TRMD) saw unusually-strong trading volume on Tuesday . Approximately 221,638 shares changed hands during mid-day trading, a decline of 69% from the previous session’s volume of 710,974 shares.The stock last traded at $35.21 and had previously closed at $34.58.

TORM Stock Performance

The stock’s 50 day moving average price is $35.68 and its 200 day moving average price is $33.94. The company has a current ratio of 2.60, a quick ratio of 2.37 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.87 billion, a PE ratio of 4.71 and a beta of 0.25.

TORM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 22nd were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 17.06%. This is a positive change from TORM’s previous quarterly dividend of $1.36. The ex-dividend date was Tuesday, May 21st. TORM’s dividend payout ratio (DPR) is presently 58.71%.

Institutional Investors Weigh In On TORM

A number of large investors have recently added to or reduced their stakes in TRMD. Creekmur Asset Management LLC acquired a new stake in TORM during the 4th quarter valued at $27,000. PSI Advisors LLC acquired a new position in TORM during the 4th quarter worth $30,000. Scarborough Advisors LLC acquired a new position in TORM during the 4th quarter worth $37,000. Optimum Investment Advisors grew its holdings in TORM by 200.0% during the 4th quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock worth $46,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in TORM during the 1st quarter worth $51,000. 73.89% of the stock is owned by institutional investors and hedge funds.

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.