Deutsche Bank AG Purchases 21,949 Shares of Torm Plc $TRMD

Key Points

• Deutsche Bank AG increased its stake in Torm Plc by 24.8%, owning a total of 110,330 shares valued at approximately $1.8 million after acquiring 21,949 additional shares.
• 73.89% of Torm's stock is held by institutional investors, with Vanguard Group and Millennium Management significantly increasing their stakes in the company in recent quarters.
• Torm recently announced a quarterly dividend of $0.40 per share, translating to an annual yield of 7.5%, with the dividend payout ratio being 35.45%.

Deutsche Bank AG increased its stake in Torm Plc (NASDAQ:TRMD - Free Report) by 24.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,330 shares of the company's stock after purchasing an additional 21,949 shares during the period. Deutsche Bank AG owned approximately 0.12% of Torm worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Torm by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 1,996,234 shares of the company's stock worth $32,688,000 after purchasing an additional 111,194 shares during the period. Millennium Management LLC boosted 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 purchasing an additional 350,555 shares during the period. Jane Street Group LLC boosted its stake in Torm by 353.5% in the 4th quarter. Jane Street Group LLC now owns 187,998 shares of the company's stock worth $3,613,000 after purchasing an additional 262,149 shares during the period. Hsbc Holdings PLC boosted its stake in Torm by 49.2% in the 4th quarter. Hsbc Holdings PLC now owns 153,460 shares of the company's stock worth $2,959,000 after purchasing an additional 50,589 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Torm in the 1st quarter worth $1,536,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TRMD shares. Fearnley Fonds raised shares of Torm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI set a $23.00 target price on shares of Torm and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Finally, Pareto Securities downgraded shares of Torm from a "buy" rating to a "hold" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Torm currently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Torm Trading Up 3.3%

Shares of NASDAQ:TRMD opened at $21.24 on Friday. Torm Plc has a 52-week low of $13.60 and a 52-week high of $38.98. The company has a market capitalization of $2.00 billion, a P/E ratio of 6.44 and a beta of 0.12. The company has a 50-day simple moving average of $18.51 and a 200 day simple moving average of $17.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.28 and a current ratio of 2.57.

Torm (NASDAQ:TRMD - Get Free Report) last issued 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. Torm had a net margin of 24.90% and a return on equity of 15.73%. The business had revenue of $208.20 million during the quarter, compared to the consensus estimate of $207.58 million. Sell-side analysts forecast that Torm Plc will post 6.27 earnings per share for the current year.

Torm Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 7.5%. The ex-dividend date is Friday, August 22nd. Torm's dividend payout ratio (DPR) is 35.45%.

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.

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