Allianz Asset Management GmbH Sells 47,082 Shares of Torm Plc (NASDAQ:TRMD)

Key Points

• Allianz Asset Management GmbH reduced its stake in Torm Plc by 22.7% in the first quarter, now owning 160,316 shares valued at approximately $2.62 million.
• Torm reported an EPS of $0.62 for the last quarter, missing analysts' estimates of $0.64, and had a net margin of 32.20%.
• The company declared a quarterly dividend of $0.40 per share, which results in an annualized dividend yield of 8.30%.

Allianz Asset Management GmbH lessened its holdings in shares of Torm Plc (NASDAQ:TRMD - Free Report) by 22.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 160,316 shares of the company's stock after selling 47,082 shares during the quarter. Allianz Asset Management GmbH owned about 0.17% of Torm worth $2,618,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CWM LLC grew its holdings in shares of Torm by 1,712.3% during the 1st quarter. CWM LLC now owns 5,292 shares of the company's stock worth $87,000 after purchasing an additional 5,000 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Torm by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock worth $175,000 after purchasing an additional 711 shares in the last quarter. Hibernia Wealth Partners LLC acquired a new stake in Torm in the 1st quarter valued at $167,000. Larson Financial Group LLC grew its position in Torm by 4,694.8% in the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company's stock valued at $168,000 after acquiring an additional 10,000 shares during the period. Finally, Aristides Capital LLC acquired a new position in Torm during the fourth quarter worth $216,000. Institutional investors and hedge funds own 73.89% of the company's stock.

Torm Trading Down 2.6%

Shares of TRMD stock traded down $0.50 during mid-day trading on Thursday, hitting $18.40. The company's stock had a trading volume of 443,594 shares, compared to its average volume of 942,135. Torm Plc has a 52 week low of $13.60 and a 52 week high of $39.04. The company has a market cap of $1.73 billion, a PE ratio of 3.88 and a beta of 0.14. The company's fifty day simple moving average is $17.63 and its 200-day simple moving average is $17.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.28 and a current ratio of 2.55.

Torm (NASDAQ:TRMD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.02). The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. Torm had a net margin of 32.20% and a return on equity of 22.40%. As a group, equities research analysts expect that Torm Plc will post 6.27 earnings per share for the current fiscal year.

Torm Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date was Thursday, May 22nd. Torm's payout ratio is presently 24.68%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TRMD shares. Pareto Securities upgraded Torm from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Fearnley Fonds upgraded Torm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Evercore ISI cut their price objective on Torm from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Torm presently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

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.