Millennium Management LLC Has $8.37 Million Stake in TORM plc (NASDAQ:TRMD)

Millennium Management LLC raised its stake in shares of TORM plc (NASDAQ:TRMD - Free Report) by 439.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 430,399 shares of the company's stock after buying an additional 350,555 shares during the quarter. Millennium Management LLC owned about 0.46% of TORM worth $8,371,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Deutsche Bank AG grew its stake in shares of TORM by 14.2% during the 4th quarter. Deutsche Bank AG now owns 88,381 shares of the company's stock valued at $1,719,000 after buying an additional 10,970 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in TORM by 104.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 32,071 shares of the company's stock worth $624,000 after purchasing an additional 16,360 shares during the period. Bridgefront Capital LLC acquired a new stake in shares of TORM during the fourth quarter worth $270,000. Jane Street Group LLC boosted its holdings in shares of TORM by 353.5% in the 4th quarter. Jane Street Group LLC now owns 187,998 shares of the company's stock valued at $3,613,000 after buying an additional 262,149 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of TORM during the 4th quarter valued at about $448,000. Institutional investors and hedge funds own 73.89% of the company's stock.

TORM Price Performance

Shares of TRMD traded down $0.19 during midday trading on Friday, reaching $15.85. The stock had a trading volume of 347,063 shares, compared to its average volume of 990,609. TORM plc has a 52 week low of $13.60 and a 52 week high of $40.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The company has a market capitalization of $1.49 billion, a P/E ratio of 2.05 and a beta of 0.12. The firm's 50 day moving average price is $16.35 and its 200-day moving average price is $18.70.

TORM (NASDAQ:TRMD - Get Free Report) last announced its 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 34.45% and a net margin of 43.81%. The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. On average, analysts forecast 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 will be paid on Wednesday, June 4th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.60 annualized dividend and a yield of 10.09%. TORM's dividend payout ratio (DPR) is presently 24.47%.

Analyst Ratings Changes

A number of brokerages recently commented on TRMD. Fearnley Fonds upgraded TORM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI decreased their price objective on TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Kepler Capital Markets downgraded TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Finally, Pareto Securities raised TORM from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TORM has a consensus rating of "Moderate Buy" and a consensus price target of $27.50.

TORM Company 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.