Jenkins Wealth Buys New Stake in TORM plc (NASDAQ:TRMD)

Jenkins Wealth bought a new stake in TORM plc (NASDAQ:TRMD – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,286 shares of the company’s stock, valued at approximately $708,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in TORM by 5,904.2% in the third quarter. Vanguard Group Inc. now owns 982,649 shares of the company’s stock worth $19,937,000 after buying an additional 966,283 shares during the last quarter. JPMorgan Chase & Co. lifted its position in TORM by 7,393.9% in the second quarter. JPMorgan Chase & Co. now owns 871,318 shares of the company’s stock worth $11,807,000 after buying an additional 859,691 shares during the last quarter. Renaissance Technologies LLC lifted its position in TORM by 39.7% in the third quarter. Renaissance Technologies LLC now owns 611,989 shares of the company’s stock worth $12,511,000 after buying an additional 173,949 shares during the last quarter. Millennium Management LLC lifted its position in TORM by 2,267.8% in the second quarter. Millennium Management LLC now owns 430,816 shares of the company’s stock worth $5,838,000 after buying an additional 412,621 shares during the last quarter. Finally, Barclays PLC lifted its position in TORM by 14.1% in the third quarter. Barclays PLC now owns 424,276 shares of the company’s stock worth $8,609,000 after buying an additional 52,315 shares during the last quarter. 77.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Danske downgraded TORM from a “buy” rating to a “hold” rating in a research report on Friday, March 10th.

TORM Stock Down 1.8 %

NASDAQ:TRMD opened at $33.88 on Friday. TORM plc has a twelve month low of $8.00 and a twelve month high of $36.60. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 4.99 and a beta of 0.45. The stock has a fifty day simple moving average of $30.18 and a 200-day simple moving average of $27.10. The company has a current ratio of 3.06, a quick ratio of 2.72 and a debt-to-equity ratio of 0.63.

TORM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Monday, March 27th will be given a dividend of $1.891 per share. This represents a $7.56 annualized dividend and a dividend yield of 22.33%. This is an increase from TORM’s previous quarterly dividend of $1.46. The ex-dividend date of this dividend is Friday, March 24th. TORM’s dividend payout ratio (DPR) is 62.74%.

TORM Company Profile

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TORM Plc engages in the ownership and operation of product tankers. The firm transports refined oil products such as gasoline, jet fuel, kerosene, naphtha and gas oil, and occasionally dirty petroleum products, such as fuel oil. The company was founded by Ditlev E. Torm and Christian Schmiegelow in 1889 and is headquartered in London, the United Kingdom.