TORM (NASDAQ:TRMD) Hits New 12-Month High at $38.85

Shares of TORM plc (NASDAQ:TRMD) reached a new 52-week high on Wednesday . The company traded as high as $38.85 and last traded at $38.79, with a volume of 329257 shares. The stock had previously closed at $37.59.

TORM Trading Up 1.0 %

The company has a market cap of $3.16 billion, a P/E ratio of 4.90 and a beta of 0.25. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $35.98 and a two-hundred day moving average price of $34.28.

TORM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 15.46%. This is a boost from TORM’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Tuesday, May 21st. TORM’s payout ratio is presently 55.30%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in TORM by 7.9% in the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after acquiring an additional 85,937 shares during the period. Norges Bank acquired a new position in shares of TORM during the fourth quarter worth about $22,306,000. Quantbot Technologies LP acquired a new position in shares of TORM during the first quarter worth about $2,836,000. Swiss National Bank boosted its position in shares of TORM by 18.4% during the first quarter. Swiss National Bank now owns 79,609 shares of the company’s stock worth $2,700,000 after buying an additional 12,353 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of TORM during the fourth quarter worth about $2,000,000. 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.