DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Grows Stake in TORM plc (NASDAQ:TRMD)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in TORM plc (NASDAQ:TRMD - Free Report) by 104.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,071 shares of the company's stock after purchasing an additional 16,360 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in TORM were worth $624,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TRMD. Arrowstreet Capital Limited Partnership grew its position in shares of TORM by 94.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock worth $84,585,000 after buying an additional 2,115,672 shares in the last quarter. Vanguard Group Inc. grew its stake in TORM by 22.4% during the 4th 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 in the last quarter. Norges Bank acquired a new stake in shares of TORM during the 4th quarter valued at about $21,273,000. Renaissance Technologies LLC lifted its holdings in TORM by 24.3% in the 4th quarter. Renaissance Technologies LLC now owns 561,889 shares of the company's stock worth $10,929,000 after purchasing an additional 109,916 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of TORM by 65.4% during the third quarter. Barclays PLC now owns 384,308 shares of the company's stock worth $13,140,000 after buying an additional 151,942 shares during the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TRMD shares. Pareto Securities upgraded TORM from a "hold" rating to a "buy" rating in a research report on Wednesday. Evercore ISI decreased their price objective on TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Kepler Capital Markets downgraded TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Finally, Fearnley Fonds upgraded TORM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.50.

TORM Stock Performance

Shares of TORM stock traded up $0.27 during trading hours on Friday, reaching $18.05. The company had a trading volume of 558,016 shares, compared to its average volume of 960,998. TORM plc has a one year low of $13.60 and a one year high of $40.47. The business has a fifty day simple moving average of $16.63 and a 200 day simple moving average of $19.14. 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 $1.70 billion, a PE ratio of 2.34 and a beta of 0.12.

TORM (NASDAQ:TRMD - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.02). The firm had revenue of $214.00 million for the quarter, compared to analysts' expectations of $244.25 million. TORM had a return on equity of 34.45% and a net margin of 43.81%. On average, analysts anticipate that TORM plc will post 6.27 earnings per share for the current fiscal year.

TORM Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 22nd. TORM's dividend payout ratio is presently 24.47%.

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.