Mitsubishi UFJ Trust & Banking Corp Sells 5,936 Shares of TORM plc (NASDAQ:TRMD)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in TORM plc (NASDAQ:TRMD) by 17.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,767 shares of the company’s stock after selling 5,936 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in TORM were worth $582,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TRMD. Vanguard Group Inc. grew its stake in TORM by 22.4% in the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock valued at $36,417,000 after acquiring an additional 345,463 shares during the period. Two Sigma Advisers LP grew its position 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 purchasing an additional 32,500 shares during the period. Barclays PLC increased its stake in TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company’s stock valued at $13,140,000 after purchasing an additional 151,942 shares in the last quarter. Platinum Investment Management Ltd. lifted its stake in shares of TORM by 92.5% in the fourth quarter. Platinum Investment Management Ltd. now owns 152,439 shares of the company’s stock valued at $2,929,000 after buying an additional 73,240 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of TORM by 11.2% in the fourth quarter. Swiss National Bank now owns 113,760 shares of the company’s stock valued at $2,191,000 after buying an additional 11,469 shares in the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

TORM Price Performance

Shares of NASDAQ:TRMD opened at $16.45 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 stock has a market cap of $1.55 billion, a PE ratio of 2.13 and a beta of 0.14. The stock’s fifty day simple moving average is $18.84 and its two-hundred day simple moving average is $22.86. TORM plc has a 1-year low of $16.14 and a 1-year high of $40.47.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.59%. The ex-dividend date of this dividend is Thursday, March 20th. TORM’s payout ratio is currently 27.43%.

Analyst Ratings Changes

Separately, Kepler Capital Markets lowered shares of TORM from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th.

TORM 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.