CWA Asset Management Group LLC Has $773,000 Stake in TORM plc (NASDAQ:TRMD)

CWA Asset Management Group LLC boosted its holdings in shares of TORM plc (NASDAQ:TRMD) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,760 shares of the company’s stock after purchasing an additional 3,563 shares during the period. CWA Asset Management Group LLC’s holdings in TORM were worth $773,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI bought a new stake in TORM in the second quarter valued at $26,000. Assetmark Inc. boosted its stake in shares of TORM by 76.9% in the 3rd quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after purchasing an additional 516 shares in the last quarter. Quarry LP bought a new stake in shares of TORM in the 3rd quarter worth about $51,000. Point72 Hong Kong Ltd bought a new position in TORM during the 2nd quarter valued at about $78,000. Finally, Thrivent Financial for Lutherans acquired a new position in TORM in the third quarter valued at about $224,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Fearnley Fonds upgraded TORM to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group dropped their price target on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

TORM Stock Up 4.6 %

Shares of TRMD stock opened at $21.28 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $21.32 and its two-hundred day moving average price is $30.40. The firm has a market capitalization of $1.73 billion, a P/E ratio of 2.75 and a beta of 0.23. TORM plc has a 1 year low of $17.77 and a 1 year high of $40.47.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were paid a $0.876 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 16.47%. The ex-dividend date of this dividend was Thursday, November 21st. TORM’s dividend payout ratio is currently 45.28%.

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.