BNP Paribas Financial Markets Has $1.32 Million Stock Position in TORM plc (NASDAQ:TRMD)

BNP Paribas Financial Markets lessened its stake in TORM plc (NASDAQ:TRMD) by 57.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,649 shares of the company’s stock after selling 52,969 shares during the quarter. BNP Paribas Financial Markets’ holdings in TORM were worth $1,321,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TRMD. Dynamic Technology Lab Private Ltd acquired a new position in TORM in the 3rd quarter worth $882,000. Thrivent Financial for Lutherans bought a new stake in shares of TORM in the third quarter valued at about $224,000. Natixis Advisors LLC acquired a new position in shares of TORM during the third quarter worth about $730,000. Apollon Wealth Management LLC bought a new position in shares of TORM during the third quarter worth about $291,000. Finally, Assetmark Inc. raised its position in TORM by 76.9% in the 3rd quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after buying an additional 516 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TORM Stock Up 1.6 %

NASDAQ:TRMD opened at $19.94 on Tuesday. TORM plc has a twelve month low of $19.41 and a twelve month high of $40.47. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 2.60 and a beta of 0.21. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $26.24 and its two-hundred day moving average price is $33.04.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were given a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 17.57%. The ex-dividend date of this dividend was Thursday, November 21st. TORM’s dividend payout ratio (DPR) is currently 45.28%.

TORM Company 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.