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

DekaBank Deutsche Girozentrale increased its stake in Torm Plc (NASDAQ:TRMD - Free Report) by 52.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TRMD. Envestnet Asset Management Inc. lifted its position in shares of Torm by 22.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 29,855 shares of the company's stock valued at $492,000 after acquiring an additional 5,466 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Torm by 9.1% during the 1st quarter. Bank of New York Mellon Corp now owns 50,538 shares of the company's stock valued at $833,000 after purchasing an additional 4,201 shares during the period. U S Global Investors Inc. lifted its holdings in shares of Torm by 20.8% in the first quarter. U S Global Investors Inc. now owns 15,251 shares of the company's stock valued at $251,000 after purchasing an additional 2,631 shares in the last quarter. Hibernia Wealth Partners LLC acquired a new stake in shares of Torm in the first quarter worth $167,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Torm in the first quarter worth $184,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TRMD. Kepler Capital Markets lowered Torm from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 27th. Evercore ISI dropped their target price on Torm from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Pareto Securities raised shares of Torm from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.50.

Torm Stock Down 0.7%

Shares of NASDAQ:TRMD traded down $0.13 during midday trading on Tuesday, hitting $17.60. 88,976 shares of the stock were exchanged, compared to its average volume of 981,810. 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 $17.40 and its two-hundred day simple moving average is $17.99. The company has a market capitalization of $1.65 billion, a PE ratio of 3.71 and a beta of 0.14.

Torm (NASDAQ:TRMD - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $214.00 million for the quarter, compared to analysts' expectations of $244.25 million. Torm had a return on equity of 22.40% and a net margin of 32.20%. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 22nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date was Thursday, May 22nd. Torm's dividend payout ratio (DPR) is presently 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.