Centiva Capital LP Invests $3.08 Million in TORM plc (NASDAQ:TRMD)

Centiva Capital LP acquired a new position in shares of TORM plc (NASDAQ:TRMD) in the 3rd quarter, HoldingsChannel reports. The fund acquired 90,000 shares of the company’s stock, valued at approximately $3,077,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in TORM by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after buying an additional 85,937 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of TORM by 11.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 58,000 shares of the company’s stock worth $1,971,000 after acquiring an additional 5,933 shares during the last quarter. Syquant Capital Sas bought a new position in TORM during the second quarter worth $46,000. Lion Street Advisors LLC acquired a new position in TORM during the 2nd quarter valued at $216,000. Finally, SG Americas Securities LLC boosted its holdings in TORM by 597.3% in the 2nd quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock valued at $888,000 after purchasing an additional 19,628 shares during the period. 73.89% of the stock is currently owned by institutional investors and hedge funds.

TORM Stock Down 0.7 %

TRMD opened at $20.94 on Monday. The company has a market capitalization of $1.71 billion, a P/E ratio of 2.71 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. The firm’s fifty day moving average price is $27.70 and its two-hundred day moving average price is $33.66. TORM plc has a fifty-two week low of $20.69 and a fifty-two week high of $40.47.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.876 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 16.73%. TORM’s dividend payout ratio (DPR) is currently 45.28%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Jefferies Financial Group cut their price objective on shares of TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Fearnley Fonds raised TORM to a “hold” rating in a report on Friday, September 27th.

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.