CWA Asset Management Group LLC Has $1.07 Million Position in Torm Plc (NASDAQ:TRMD)

CWA Asset Management Group LLC lifted its stake in Torm Plc (NASDAQ:TRMD - Free Report) by 63.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,159 shares of the company's stock after buying an additional 25,399 shares during the period. CWA Asset Management Group LLC owned approximately 0.07% of Torm worth $1,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TRMD. Hsbc Holdings PLC grew its holdings in shares of Torm by 49.2% during the fourth quarter. Hsbc Holdings PLC now owns 153,460 shares of the company's stock valued at $2,959,000 after purchasing an additional 50,589 shares during the last quarter. Vanguard Group Inc. increased its position in Torm by 22.4% in 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 during the period. Y Intercept Hong Kong Ltd increased its position in Torm by 174.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 43,219 shares of the company's stock valued at $841,000 after acquiring an additional 27,465 shares during the period. Franklin Resources Inc. increased its position in Torm by 86.3% in the 4th quarter. Franklin Resources Inc. now owns 61,429 shares of the company's stock valued at $1,180,000 after acquiring an additional 28,455 shares during the period. Finally, Mariner LLC increased its position in Torm by 129.3% in the 4th quarter. Mariner LLC now owns 41,382 shares of the company's stock valued at $805,000 after acquiring an additional 23,337 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.

Torm Stock Down 3.6%

Shares of NASDAQ:TRMD traded down $0.69 during midday trading on Monday, hitting $18.23. 1,207,480 shares of the stock were exchanged, compared to its average volume of 962,525. 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 Plc has a 52-week low of $13.60 and a 52-week high of $40.47. The business's fifty day simple moving average is $16.99 and its two-hundred day simple moving average is $18.16. The company has a market capitalization of $1.71 billion, a PE ratio of 3.85 and a beta of 0.13.

Torm (NASDAQ:TRMD - Get Free Report) last issued 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, research analysts predict that Torm Plc will post 6.27 earnings per share for the current fiscal year.

Torm Cuts Dividend

The company 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 8.78%. The ex-dividend date was Thursday, May 22nd. Torm's dividend payout ratio (DPR) is currently 24.68%.

Analysts Set New Price Targets

Several research firms recently commented on TRMD. Kepler Capital Markets cut Torm from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 27th. Pareto Securities raised Torm from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Evercore ISI decreased their price target on Torm from $25.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Fearnley Fonds raised Torm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Torm currently has a consensus rating of "Moderate Buy" and a consensus target price 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.