Renaissance Technologies LLC boosted its holdings in shares of TORM plc (NASDAQ:TRMD – Get Rating) by 39.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 611,989 shares of the company’s stock after buying an additional 173,949 shares during the quarter. Renaissance Technologies LLC owned about 0.75% of TORM worth $12,511,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in TORM during the third quarter worth $59,000. JPMorgan Chase & Co. acquired a new stake in shares of TORM in the first quarter valued at about $103,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TORM by 42.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,432 shares of the company’s stock valued at $111,000 after purchasing an additional 1,626 shares during the last quarter. Citigroup Inc. acquired a new stake in shares of TORM in the first quarter valued at about $148,000. Finally, Quantbot Technologies LP acquired a new stake in shares of TORM in the second quarter valued at about $155,000. 77.29% of the stock is owned by institutional investors and hedge funds.
TORM Trading Up 1.5 %
Shares of NASDAQ:TRMD opened at $36.35 on Friday. The company has a market cap of $2.96 billion, a P/E ratio of 9.18 and a beta of 0.45. The stock’s 50-day moving average is $29.10 and its 200-day moving average is $26.17. TORM plc has a 52-week low of $7.66 and a 52-week high of $36.60. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.72 and a current ratio of 3.06.
TORM Company Profile
TORM Plc engages in the ownership and operation of product tankers. The firm transports refined oil products such as gasoline, jet fuel, kerosene, naphtha and gas oil, and occasionally dirty petroleum products, such as fuel oil. The company was founded by Ditlev E. Torm and Christian Schmiegelow in 1889 and is headquartered in London, the United Kingdom.
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