Natixis Advisors LLC Buys Shares of 21,358 TORM plc (NASDAQ:TRMD)

Natixis Advisors LLC bought a new stake in shares of TORM plc (NASDAQ:TRMD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,358 shares of the company’s stock, valued at approximately $730,000.

Other institutional investors have also made changes to their positions in the company. National Bank of Canada FI bought a new position in shares of TORM in the second quarter worth about $26,000. Fifth Third Bancorp bought a new position in shares of TORM in the second quarter worth about $43,000. Syquant Capital Sas bought a new position in shares of TORM in the second quarter worth about $46,000. Assetmark Inc. increased its stake in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after purchasing an additional 516 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of TORM in the second quarter worth about $78,000. 73.89% of the stock is currently owned by institutional investors.

TORM Stock Down 0.4 %

NASDAQ TRMD opened at $21.09 on Thursday. The firm has a market cap of $1.72 billion, a PE ratio of 2.73 and a beta of 0.27. TORM plc has a one year low of $20.69 and a one year high of $40.47. The stock’s 50 day simple moving average is $28.29 and its 200 day simple moving average is $33.92. 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 Cuts Dividend

The company also recently disclosed 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 annualized dividend and a yield of 16.61%. The ex-dividend date of this dividend is Thursday, November 21st. TORM’s dividend payout ratio is 45.28%.

Wall Street Analyst Weigh In

TRMD has been the topic of a number of recent analyst reports. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group lowered their price target on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

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.