Mackenzie Financial Corp Grows Stock Position in TORM plc (NASDAQ:TRMD)

Mackenzie Financial Corp increased its holdings in TORM plc (NASDAQ:TRMD - Free Report) by 225.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,177 shares of the company's stock after buying an additional 25,071 shares during the period. Mackenzie Financial Corp's holdings in TORM were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in TORM by 49.5% in the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock worth $114,000 after buying an additional 1,939 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in TORM by 8.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock worth $175,000 after buying an additional 711 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock valued at $208,000 after purchasing an additional 2,219 shares during the last quarter. Aristides Capital LLC purchased a new position in TORM during the 4th quarter worth $216,000. Finally, NewEdge Advisors LLC raised its stake in TORM by 16.4% in the fourth 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 last quarter. Institutional investors own 73.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TRMD shares. Fearnley Fonds raised TORM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Evercore ISI cut their price objective 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 TORM from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a report 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.50.

TORM Stock Performance

TORM stock traded up $0.12 during midday trading on Thursday, hitting $16.63. 504,132 shares of the company were exchanged, compared to its average volume of 953,140. The firm has a market capitalization of $1.56 billion, a PE ratio of 2.15 and a beta of 0.12. TORM plc has a fifty-two week low of $13.60 and a fifty-two week high of $40.47. The business has a fifty day simple moving average of $16.28 and a two-hundred day simple moving average of $18.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47.

TORM (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings data 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 net margin of 43.81% and a return on equity of 34.45%. The business had revenue of $214.00 million during 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 company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were given a $0.40 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 9.62%. TORM's dividend payout ratio (DPR) is presently 24.47%.

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.