Dynamic Technology Lab Private Ltd Takes $882,000 Position in TORM plc (NASDAQ:TRMD)

Dynamic Technology Lab Private Ltd bought a new stake in shares of TORM plc (NASDAQ:TRMD) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 25,803 shares of the company’s stock, valued at approximately $882,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TRMD. Assetmark Inc. lifted its stake in shares of TORM by 76.9% in the third 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 period. National Bank of Canada FI bought a new stake in shares of TORM in the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of TORM by 7.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock worth $433,000 after acquiring an additional 811 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TORM by 12.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock valued at $365,000 after purchasing an additional 1,030 shares during the period. Finally, Hibernia Wealth Partners LLC increased its position in shares of TORM by 5.5% during the third quarter. Hibernia Wealth Partners LLC now owns 20,974 shares of the company’s stock valued at $717,000 after purchasing an additional 1,092 shares during the period. 73.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group decreased their price target on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a research report on Friday, September 27th.

TORM Price Performance

TORM stock opened at $21.09 on Thursday. The business has a 50 day simple moving average of $28.29 and a 200 day simple moving average of $33.92. TORM plc has a one year low of $20.69 and a one year high of $40.47. The company has a market capitalization of $1.72 billion, a PE ratio of 2.73 and a beta of 0.27. 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 announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be issued a $0.876 dividend. This represents a $3.50 annualized dividend and a dividend yield of 16.61%. The ex-dividend date is Thursday, November 21st. TORM’s payout ratio is 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.