Bank of America Corp DE reduced its stake in shares of TORM plc (NASDAQ:TRMD - Free Report) by 75.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,418 shares of the company's stock after selling 71,142 shares during the quarter. Bank of America Corp DE's holdings in TORM were worth $455,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Jane Street Group LLC boosted its stake in TORM by 353.5% in the fourth quarter. Jane Street Group LLC now owns 187,998 shares of the company's stock valued at $3,613,000 after buying an additional 262,149 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in TORM in the fourth quarter valued at about $448,000. Hsbc Holdings PLC boosted its stake in TORM by 49.2% in the fourth quarter. Hsbc Holdings PLC now owns 153,460 shares of the company's stock valued at $2,959,000 after buying an additional 50,589 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in TORM by 8.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after buying an additional 711 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in TORM by 16.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock valued at $233,000 after buying an additional 1,685 shares in the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.
TORM Trading Up 2.8%
TRMD traded up $0.50 during trading on Friday, hitting $18.65. The company's stock had a trading volume of 1,202,585 shares, compared to its average volume of 957,228. TORM plc has a twelve month low of $13.60 and a twelve month high of $40.47. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The stock's fifty day moving average price is $16.57 and its 200-day moving average price is $18.25. The firm has a market capitalization of $1.75 billion, a P/E ratio of 2.41 and a beta of 0.13.
TORM (NASDAQ:TRMD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.02). The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $244.25 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. Analysts anticipate that TORM plc will post 6.27 EPS for the current year.
TORM Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 22nd were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 annualized dividend and a yield of 8.58%. TORM's dividend payout ratio (DPR) is currently 24.47%.
Wall Street Analyst Weigh In
Several analysts recently weighed in on TRMD shares. Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Fearnley Fonds raised TORM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI cut their price target on TORM from $25.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Pareto Securities raised TORM from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TORM currently has an average rating of "Moderate Buy" and an average price target of $27.50.
Check Out Our Latest Stock Report on TORM
TORM Company Profile
(
Free Report)
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.
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