TORM plc (NASDAQ:TRMD) Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in TORM plc (NASDAQ:TRMD) by 86.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,337 shares of the company’s stock after selling 295,147 shares during the period. Bank of New York Mellon Corp’s holdings in TORM were worth $901,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TRMD. Quarry LP bought a new stake in TORM in the third quarter worth about $51,000. Thrivent Financial for Lutherans purchased a new stake in shares of TORM during the third quarter valued at $224,000. Apollon Wealth Management LLC raised its holdings in TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock worth $208,000 after buying an additional 2,219 shares during the period. Arkadios Wealth Advisors purchased a new stake in TORM during the fourth quarter valued at about $301,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of TORM in the fourth quarter worth about $312,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

TORM Stock Down 2.2 %

TRMD stock opened at $18.01 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The firm has a market capitalization of $1.69 billion, a P/E ratio of 2.33 and a beta of 0.14. TORM plc has a 52-week low of $16.76 and a 52-week high of $40.47. The company’s 50 day simple moving average is $19.23 and its 200-day simple moving average is $23.44.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 13.33%. The ex-dividend date is Thursday, March 20th. TORM’s dividend payout ratio (DPR) is currently 27.43%.

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.