CWA Asset Management Group LLC Acquires 25,399 Shares of Torm Plc (NASDAQ:TRMD)

CWA Asset Management Group LLC grew its holdings in Torm Plc (NASDAQ:TRMD - Free Report) by 63.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,159 shares of the company's stock after purchasing an additional 25,399 shares during the period. CWA Asset Management Group LLC owned about 0.07% of Torm worth $1,074,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TRMD. Mackenzie Financial Corp increased its stake in Torm by 225.7% in the 4th quarter. Mackenzie Financial Corp now owns 36,177 shares of the company's stock worth $704,000 after buying an additional 25,071 shares during the period. Millennium Management LLC grew its stake in Torm by 439.0% in the 4th quarter. Millennium Management LLC now owns 430,399 shares of the company's stock worth $8,371,000 after acquiring an additional 350,555 shares in the last quarter. Deutsche Bank AG increased its position in shares of Torm by 14.2% during the fourth quarter. Deutsche Bank AG now owns 88,381 shares of the company's stock worth $1,719,000 after acquiring an additional 10,970 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Torm by 104.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 32,071 shares of the company's stock valued at $624,000 after acquiring an additional 16,360 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in shares of Torm in the fourth quarter valued at approximately $270,000. 73.89% of the stock is currently owned by institutional investors.

Torm Stock Up 0.9%

Shares of NASDAQ TRMD opened at $19.20 on Friday. Torm Plc has a 12-month low of $13.60 and a 12-month high of $40.47. The stock's fifty day simple moving average is $16.87 and its two-hundred day simple moving average is $18.21. The stock has a market capitalization of $1.80 billion, a PE ratio of 4.05 and a beta of 0.13. The company has a current ratio of 2.55, a quick ratio of 2.28 and a debt-to-equity ratio of 0.48.

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

Torm Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 8.33%. The ex-dividend date of this dividend was Thursday, May 22nd. Torm's payout ratio is 24.68%.

Analysts Set New Price Targets

Several research analysts have commented on TRMD shares. Pareto Securities upgraded Torm from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. 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. Kepler Capital Markets lowered shares of Torm from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Finally, Fearnley Fonds upgraded shares of Torm from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.