Nuveen Asset Management LLC reduced its holdings in shares of TORM plc (NASDAQ:TRMD - Free Report) by 88.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,526 shares of the company's stock after selling 305,477 shares during the quarter. Nuveen Asset Management LLC's holdings in TORM were worth $740,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of TRMD. Jones Financial Companies Lllp raised its stake in TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock worth $114,000 after acquiring an additional 1,939 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of TORM by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after purchasing an additional 711 shares during the last quarter. Apollon Wealth Management LLC increased its position in TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock worth $208,000 after purchasing an additional 2,219 shares in the last quarter. Aristides Capital LLC bought a new position in TORM in the 4th quarter valued at approximately $216,000. Finally, NewEdge Advisors LLC boosted its position 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 in the last quarter. 73.89% of the stock is currently owned by institutional investors.
TORM Trading Up 3.2%
TRMD traded up $0.53 during trading on Friday, reaching $17.16. 933,499 shares of the stock traded hands, compared to its average volume of 952,949. The stock's 50-day moving average is $16.28 and its 200 day moving average is $18.46. TORM plc has a 12 month low of $13.60 and a 12 month high of $40.47. The stock has a market capitalization of $1.61 billion, a PE ratio of 2.22 and a beta of 0.12. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.
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 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 company had revenue of $214.00 million during the quarter, compared to the consensus estimate of $244.25 million. Equities analysts anticipate that TORM plc will post 6.27 earnings per share for the current year.
TORM Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 9.32%. TORM's dividend payout ratio is 24.47%.
Analyst Ratings Changes
Several brokerages have recently issued reports on TRMD. Evercore ISI lowered their price target on shares of TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Fearnley Fonds upgraded TORM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Kepler Capital Markets cut TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th. Finally, Pareto Securities raised shares of 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.50.
Read Our Latest Stock Report on TORM
About TORM
(
Free Report)
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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