Amundi Cuts Stock Holdings in TORM plc (NASDAQ:TRMD)

Amundi lowered its holdings in shares of TORM plc (NASDAQ:TRMD) by 30.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,580 shares of the company’s stock after selling 4,218 shares during the quarter. Amundi’s holdings in TORM were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of TRMD. Quarry LP bought a new position in TORM during the third quarter valued at $51,000. Jones Financial Companies Lllp lifted its position in TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after purchasing an additional 1,939 shares during the last quarter. Apollon Wealth Management LLC lifted its position in TORM by 26.1% during the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock valued at $208,000 after purchasing an additional 2,219 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in TORM during the third quarter valued at $224,000. Finally, U S Global Investors Inc. lifted its position in TORM by 26.3% during the fourth quarter. U S Global Investors Inc. now owns 12,620 shares of the company’s stock valued at $245,000 after purchasing an additional 2,625 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.

TORM Price Performance

TRMD stock opened at $18.32 on Friday. TORM plc has a 52 week low of $16.76 and a 52 week high of $40.47. 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 company has a fifty day simple moving average of $19.41 and a two-hundred day simple moving average of $23.79. The firm has a market capitalization of $1.72 billion, a P/E ratio of 2.37 and a beta of 0.14.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th will be issued a $0.60 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.40 annualized dividend and a dividend yield of 13.10%. TORM’s dividend payout ratio (DPR) is presently 27.43%.

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.