New York State Common Retirement Fund Cuts Stake in TORM plc (NASDAQ:TRMD)

New York State Common Retirement Fund reduced its stake in TORM plc (NASDAQ:TRMD) by 26.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,371 shares of the company’s stock after selling 16,949 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of TORM worth $921,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Centiva Capital LP purchased a new stake in shares of TORM in the third quarter worth $3,077,000. Exchange Traded Concepts LLC purchased a new stake in shares of TORM in the fourth quarter worth $312,000. Franklin Resources Inc. purchased a new stake in shares of TORM in the third quarter worth $1,047,000. PSI Advisors LLC grew its stake in shares of TORM by 139.8% in the fourth quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock worth $824,000 after acquiring an additional 24,702 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of TORM in the fourth quarter worth $301,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

TORM Trading Down 1.3 %

TORM stock opened at $17.37 on Tuesday. 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 plc has a one year low of $17.17 and a one year high of $40.47. The stock has a market capitalization of $1.63 billion, a PE ratio of 2.25 and a beta of 0.21. The business’s fifty day moving average is $19.90 and its 200 day moving average is $25.48.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut their target price on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

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.