Cetera Investment Advisers Invests $237,000 in Torm Plc $TRMD

Key Points

• Cetera Investment Advisers acquired 14,389 shares of Torm Plc (NASDAQ: TRMD) valued at approximately $237,000 in the first quarter.
• Torm reported $0.58 earnings per share in its recent quarterly earnings, exceeding the consensus estimate of $0.57.
• The company announced a quarterly dividend of $0.40 to be paid on September 3, representing a 7.5% yield for investors.

Cetera Investment Advisers acquired a new stake in shares of Torm Plc (NASDAQ:TRMD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,389 shares of the company's stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Torm during the first quarter valued at approximately $1,536,000. Midwest Professional Planners LTD. lifted its position in Torm by 2.7% during the first quarter. Midwest Professional Planners LTD. now owns 68,441 shares of the company's stock valued at $1,128,000 after purchasing an additional 1,814 shares during the last quarter. Larson Financial Group LLC lifted its position in Torm by 4,694.8% during the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company's stock valued at $168,000 after purchasing an additional 10,000 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Torm by 20.2% in the first quarter. SBI Securities Co. Ltd. now owns 67,536 shares of the company's stock valued at $1,113,000 after acquiring an additional 11,339 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in shares of Torm by 9.1% in the first quarter. Apollon Wealth Management LLC now owns 11,691 shares of the company's stock valued at $193,000 after acquiring an additional 972 shares during the period. 73.89% of the stock is owned by hedge funds and other institutional investors.

Torm Stock Performance

Shares of NASDAQ:TRMD traded up $0.73 during trading on Wednesday, hitting $21.24. 1,362,568 shares of the stock traded hands, compared to its average volume of 830,737. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.46. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 6.44 and a beta of 0.12. The company has a fifty day moving average price of $18.68 and a two-hundred day moving average price of $17.78. Torm Plc has a 52-week low of $13.60 and a 52-week high of $38.04.

Torm (NASDAQ:TRMD - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $208.20 million during the quarter, compared to analyst estimates of $207.58 million. Torm had a net margin of 24.90% and a return on equity of 15.73%. As a group, equities analysts predict that Torm Plc will post 6.27 EPS for the current year.

Torm Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, August 22nd. Torm's payout ratio is presently 35.45%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Fearnley Fonds raised shares of Torm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI set a $23.00 target price on shares of Torm and gave the company an "outperform" rating in a research report on Thursday, August 14th. Finally, Pareto Securities downgraded shares of Torm from a "buy" rating to a "hold" rating in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Torm presently has an average rating of "Moderate Buy" and an average price target of $27.50.

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.