Nuveen Asset Management LLC Has $740,000 Stock Position in TORM plc (NASDAQ:TRMD)

Nuveen Asset Management LLC trimmed its position in shares of TORM plc (NASDAQ:TRMD - Free Report) by 88.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,526 shares of the company's stock after selling 305,477 shares during the period. Nuveen Asset Management LLC's holdings in TORM were worth $740,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in TORM by 94.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock valued at $84,585,000 after acquiring an additional 2,115,672 shares during the last quarter. Vanguard Group Inc. boosted its stake in TORM by 22.4% during the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock valued at $36,417,000 after acquiring an additional 345,463 shares during the last quarter. Norges Bank bought a new position in TORM during the 4th quarter valued at $21,273,000. Renaissance Technologies LLC boosted its stake in TORM by 24.3% during the 4th quarter. Renaissance Technologies LLC now owns 561,889 shares of the company's stock valued at $10,929,000 after acquiring an additional 109,916 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of 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 buying an additional 350,555 shares during the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TRMD shares. Fearnley Fonds upgraded shares of TORM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Evercore ISI reduced their price target on shares of TORM from $25.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Kepler Capital Markets downgraded shares of TORM from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 27th. Finally, Pareto Securities upgraded shares of TORM from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. One equities research 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 company. According to data from MarketBeat, TORM has an average rating of "Moderate Buy" and a consensus price target of $27.50.

TORM Stock Performance

Shares of TRMD stock traded up $0.53 during trading hours on Friday, reaching $17.16. The stock had a trading volume of 933,613 shares, compared to its average volume of 956,336. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. TORM plc has a twelve month low of $13.60 and a twelve month high of $40.47. The firm has a 50-day simple moving average of $16.30 and a 200-day simple moving average of $18.36. The firm has a market capitalization of $1.61 billion, a PE ratio of 2.22 and a beta of 0.13.

TORM (NASDAQ:TRMD - Get Free Report) last released 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). The company had revenue of $214.00 million for the quarter, compared to analyst estimates of $244.25 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. As a group, equities analysts forecast that TORM plc will post 6.27 earnings per share for the current year.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 9.32%. TORM's dividend payout ratio is currently 24.47%.

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.