Commons Capital LLC Makes New $450,000 Investment in Torm Plc $TRMD

Key Points

• Commons Capital LLC has made a new investment of approximately $450,000 in Torm Plc by acquiring 27,000 shares during the 2nd quarter.
• Several hedge funds have increased their stakes in Torm, indicating strong institutional interest, with 73.89% of the stock owned by hedge funds and other institutional investors.
• Torm recently declared a quarterly dividend of $0.40 per share, providing an annualized yield of 7.8%, and reported positive earnings, with an EPS of $0.58 for the last quarter.

Commons Capital LLC purchased a new stake in shares of Torm Plc (NASDAQ:TRMD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,000 shares of the company's stock, valued at approximately $450,000.

A number of other hedge funds also recently added to or reduced their stakes in TRMD. Wealth Preservation Advisors LLC purchased a new position in Torm during the 1st quarter valued at about $69,000. CWM LLC boosted its stake in shares of Torm by 1,712.3% during the first quarter. CWM LLC now owns 5,292 shares of the company's stock valued at $87,000 after purchasing an additional 5,000 shares in the last quarter. Hibernia Wealth Partners LLC purchased a new position in Torm during the first quarter valued at approximately $167,000. Larson Financial Group LLC raised its stake in Torm by 4,694.8% in the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company's stock worth $168,000 after buying an additional 10,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Torm during the first quarter worth $184,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRMD. Evercore ISI set a $23.00 price target on Torm and gave the company an "outperform" rating in a report on Thursday, August 14th. Fearnley Fonds downgraded shares of Torm from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Torm in a research report on Wednesday, October 8th. Finally, Pareto Securities downgraded shares of Torm from a "buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $27.50.

Torm Trading Up 3.0%

Shares of Torm stock opened at $20.44 on Friday. The firm's 50 day simple moving average is $21.27 and its two-hundred day simple moving average is $18.56. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 6.19 and a beta of 0.08. Torm Plc has a 12-month low of $13.60 and a 12-month high of $30.20. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.46.

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

Torm Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 22nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 7.8%. The ex-dividend date was Friday, August 22nd. Torm's payout ratio is presently 35.45%.

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.

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