DekaBank Deutsche Girozentrale Purchases 20,000 Shares of Torm Plc (NASDAQ:TRMD)

DekaBank Deutsche Girozentrale lifted its position in Torm Plc (NASDAQ:TRMD - Free Report) by 52.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,000 shares of the company's stock after acquiring an additional 20,000 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.06% of Torm worth $944,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Torm by 8.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after acquiring an additional 711 shares in the last quarter. Geode Capital Management LLC increased its stake in Torm by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 82,466 shares of the company's stock valued at $1,604,000 after buying an additional 840 shares during the period. NewEdge Advisors LLC increased its stake in Torm by 16.4% in the 4th 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 during the period. Jones Financial Companies Lllp increased its stake in Torm by 49.5% in the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after buying an additional 1,939 shares during the period. Finally, U S Global Investors Inc. increased its stake in Torm by 20.8% in the 1st quarter. U S Global Investors Inc. now owns 15,251 shares of the company's stock valued at $251,000 after buying an additional 2,631 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TRMD shares. Pareto Securities upgraded shares of Torm from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Fearnley Fonds upgraded shares of Torm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI dropped their price objective on shares of Torm from $25.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Kepler Capital Markets lowered shares of Torm from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Torm currently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Torm Stock Up 1.9%

Shares of TRMD traded up $0.34 during mid-day trading on Thursday, hitting $17.87. 405,206 shares of the company's stock were exchanged, compared to its average volume of 985,688. The firm has a fifty day moving average of $17.46 and a two-hundred day moving average of $17.98. Torm Plc has a twelve month low of $13.60 and a twelve month high of $40.47. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 3.77 and a beta of 0.14. The company has a quick ratio of 2.28, a current ratio of 2.55 and a debt-to-equity ratio of 0.48.

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

Torm Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 8.95%. Torm's dividend payout ratio (DPR) is 24.68%.

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.