Torm Plc $TRMD Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs has significantly reduced its stake in Torm Plc, selling 215,693 shares to hold just 11,613 shares, reflecting a 94.9% decrease in their holdings.
• Other institutional investors have been active too, with notable increases in stakes from firms like CWM LLC, which raised its position by 1,712.3%.
• Torm recently announced a quarterly dividend of $0.40 per share, translating to an annual yield of 7.5%, supported by a payout ratio of 35.45%.

Goldman Sachs Group Inc. lowered its holdings in shares of Torm Plc (NASDAQ:TRMD - Free Report) by 94.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,613 shares of the company's stock after selling 215,693 shares during the period. Goldman Sachs Group Inc.'s holdings in Torm were worth $191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in Torm during the first quarter worth about $69,000. CWM LLC raised its position in shares of Torm by 1,712.3% in the first quarter. CWM LLC now owns 5,292 shares of the company's stock valued at $87,000 after buying an additional 5,000 shares during the last quarter. Hibernia Wealth Partners LLC acquired a new position in shares of Torm in the first quarter valued at approximately $167,000. Larson Financial Group LLC raised its position in shares of Torm by 4,694.8% in the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company's stock valued at $168,000 after buying an additional 10,000 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Torm in the first quarter valued at approximately $184,000. Institutional investors and hedge funds own 73.89% of the company's stock.

Analyst Upgrades and Downgrades

TRMD has been the subject of a number of analyst reports. Evercore ISI set a $23.00 price objective on shares of Torm and gave the company an "outperform" rating in a research report on Thursday, August 14th. Pareto Securities lowered shares of Torm from a "buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Finally, Fearnley Fonds lowered shares of Torm from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. 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. Based on data from MarketBeat.com, Torm has a consensus rating of "Hold" and a consensus price target of $27.50.

Torm Price Performance

Torm stock opened at $21.32 on Monday. Torm Plc has a 1 year low of $13.60 and a 1 year high of $34.34. The firm has a 50 day moving average price of $20.80 and a 200 day moving average price of $18.34. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 6.46 and a beta of 0.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.30 and a current ratio of 2.57.

Torm (NASDAQ:TRMD - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Torm had a net margin of 24.90% and a return on equity of 15.73%. The firm had revenue of $208.20 million during the quarter, compared to the consensus estimate of $207.58 million. Sell-side analysts predict that Torm Plc will post 6.27 earnings per share for the current year.

Torm Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 22nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date was Friday, August 22nd. Torm's payout ratio is presently 35.45%.

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.

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