Franklin Resources Inc. Buys New Position in TORM plc (NASDAQ:TRMD)

Franklin Resources Inc. bought a new stake in shares of TORM plc (NASDAQ:TRMD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,974 shares of the company’s stock, valued at approximately $1,047,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new stake in shares of TORM during the third quarter worth $3,077,000. DekaBank Deutsche Girozentrale grew its holdings in TORM by 1,166.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock worth $1,289,000 after acquiring an additional 35,000 shares during the period. International Assets Investment Management LLC bought a new position in shares of TORM in the 3rd quarter worth about $7,359,000. Lighthouse Investment Partners LLC lifted its stake in shares of TORM by 276.2% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock valued at $4,267,000 after purchasing an additional 80,793 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of TORM during the 2nd quarter valued at about $9,619,000. Institutional investors own 73.89% of the company’s stock.

TORM Stock Performance

Shares of TRMD opened at $19.34 on Friday. TORM plc has a one year low of $17.77 and a one year high of $40.47. The company has a market cap of $1.58 billion, a PE ratio of 2.50 and a beta of 0.21. The stock has a 50-day moving average of $22.39 and a 200-day moving average of $31.18. 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 was paid on Wednesday, December 4th. Shareholders 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 dividend on an annualized basis and a yield of 18.12%. TORM’s dividend payout ratio (DPR) is presently 45.28%.

Analyst Ratings Changes

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

TORM 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.