Nuveen LLC Invests $841,000 in Torm Plc $TRMD

Nuveen LLC purchased a new stake in Torm Plc (NASDAQ:TRMD - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 51,498 shares of the company's stock, valued at approximately $841,000. Nuveen LLC owned 0.05% of Torm at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Torm by 5.9% in the first quarter. Vanguard Group Inc. now owns 1,996,234 shares of the company's stock valued at $32,688,000 after acquiring an additional 111,194 shares during the period. DekaBank Deutsche Girozentrale grew its position in Torm by 52.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 58,000 shares of the company's stock valued at $944,000 after acquiring an additional 20,000 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in Torm in the first quarter valued at $184,000. Deutsche Bank AG grew its position in Torm by 24.8% in the first quarter. Deutsche Bank AG now owns 110,330 shares of the company's stock valued at $1,818,000 after acquiring an additional 21,949 shares during the period. Finally, CWA Asset Management Group LLC grew its position in Torm by 63.9% in the first quarter. CWA Asset Management Group LLC now owns 65,159 shares of the company's stock valued at $1,074,000 after acquiring an additional 25,399 shares during the period. 73.89% of the stock is currently owned by institutional investors.

Torm Trading Up 1.1%

Torm stock traded up $0.25 during mid-day trading on Friday, hitting $23.02. The stock had a trading volume of 592,026 shares, compared to its average volume of 853,758. The stock has a 50-day simple moving average of $19.28 and a two-hundred day simple moving average of $17.88. The stock has a market capitalization of $2.16 billion, a PE ratio of 6.98 and a beta of 0.12. Torm Plc has a 12 month low of $13.60 and a 12 month high of $36.78. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.46.

Torm (NASDAQ:TRMD - Get Free Report) last posted its quarterly 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. The business had revenue of $208.20 million for the quarter, compared to analysts' expectations of $207.58 million. Torm had a return on equity of 15.73% and a net margin of 24.90%. As a group, sell-side analysts forecast that Torm Plc will post 6.27 EPS for the current year.

Torm Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 22nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.60 annualized dividend and a yield of 7.0%. Torm's dividend payout ratio is presently 35.45%.

Analysts Set New Price Targets

Several brokerages have recently commented on TRMD. Fearnley Fonds cut Torm from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Evercore ISI set a $23.00 target price on Torm and gave the stock an "outperform" rating in a report on Thursday, August 14th. Finally, Pareto Securities cut Torm from a "buy" rating to a "hold" rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.