TORM plc (NASDAQ:TRMD) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in TORM plc (NASDAQ:TRMD) by 86.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 46,337 shares of the company’s stock after selling 295,147 shares during the quarter. Bank of New York Mellon Corp’s holdings in TORM were worth $901,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TRMD. Two Sigma Advisers LP increased its stake in TORM by 2.6% in the 3rd quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock valued at $43,315,000 after buying an additional 32,500 shares during the period. Barclays PLC increased its stake in shares of TORM by 65.4% in the third quarter. Barclays PLC now owns 384,308 shares of the company’s stock worth $13,140,000 after acquiring an additional 151,942 shares during the last quarter. Soros Fund Management LLC purchased a new stake in shares of TORM during the third quarter worth $3,419,000. Centiva Capital LP purchased a new stake in shares of TORM during the third quarter worth $3,077,000. Finally, Geode Capital Management LLC boosted its position in TORM by 0.6% during the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after purchasing an additional 505 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.

TORM Stock Performance

Shares of TRMD stock opened at $18.01 on Wednesday. TORM plc has a fifty-two week low of $16.76 and a fifty-two week high of $40.47. The stock’s 50-day moving average is $19.23 and its two-hundred day moving average is $23.44. 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 cap of $1.69 billion, a P/E ratio of 2.33 and a beta of 0.14.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 dividend on an annualized basis and a yield of 13.33%. TORM’s dividend payout ratio is currently 27.43%.

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.