Kovack Advisors Inc. Purchases 5,717 Shares of TORM plc (NASDAQ:TRMD)

Kovack Advisors Inc. increased its position in TORM plc (NASDAQ:TRMD) by 39.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,188 shares of the company’s stock after acquiring an additional 5,717 shares during the period. Kovack Advisors Inc.’s holdings in TORM were worth $614,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its holdings in TORM by 4.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,496 shares of the company’s stock valued at $316,000 after purchasing an additional 484 shares during the period. Optimum Investment Advisors grew its holdings in TORM by 200.0% during the fourth quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock valued at $46,000 after purchasing an additional 1,000 shares during the period. PSI Advisors LLC bought a new stake in TORM during the fourth quarter valued at about $30,000. Bank of New York Mellon Corp grew its holdings in TORM by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 99,813 shares of the company’s stock valued at $2,747,000 after purchasing an additional 1,144 shares during the period. Finally, Citigroup Inc. grew its holdings in TORM by 61.5% during the third quarter. Citigroup Inc. now owns 4,990 shares of the company’s stock valued at $136,000 after purchasing an additional 1,900 shares during the period. Institutional investors own 73.89% of the company’s stock.

TORM Stock Performance

NASDAQ:TRMD opened at $34.65 on Friday. The stock has a 50-day simple moving average of $34.08 and a two-hundred day simple moving average of $32.35. TORM plc has a 52-week low of $22.31 and a 52-week high of $37.11. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.37 and a current ratio of 2.60. The firm has a market capitalization of $2.82 billion, a PE ratio of 4.64 and a beta of 0.15.

TORM (NASDAQ:TRMD) last released its quarterly earnings results on Thursday, March 7th. The company reported $1.56 earnings per share (EPS) for the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%. The business had revenue of $387.78 million during the quarter.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Tuesday, April 16th were given a $1.36 dividend. The ex-dividend date was Monday, April 15th. This represents a $5.44 annualized dividend and a dividend yield of 15.70%. TORM’s payout ratio is 53.22%.

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.