Thrivent Financial for Lutherans Purchases New Shares in TORM plc (NASDAQ:TRMD)

Thrivent Financial for Lutherans acquired a new position in shares of TORM plc (NASDAQ:TRMD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,553 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its holdings in shares of TORM by 1,166.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock valued at $1,289,000 after acquiring an additional 35,000 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of TORM in the third quarter worth $7,359,000. SG Americas Securities LLC grew its holdings in shares of TORM by 597.3% during the second quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock valued at $888,000 after buying an additional 19,628 shares in the last quarter. Lighthouse Investment Partners LLC raised its position in TORM by 276.2% during the second quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock valued at $4,267,000 after buying an additional 80,793 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in TORM in the 2nd quarter worth about $9,619,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

TORM Stock Performance

Shares of NASDAQ TRMD opened at $19.63 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. TORM plc has a one year low of $19.41 and a one year high of $40.47. The business’s 50-day moving average price is $26.53 and its two-hundred day moving average price is $33.23.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were paid a $0.876 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 17.85%. TORM’s payout ratio is 45.28%.

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.