Torm Plc $TRMD Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Torm Plc by 63.9%, now holding 30,947 shares valued at $518,000.
• Vanguard Group Inc. and Deutsche Bank AG both increased their stakes in Torm during the first quarter, with Vanguard raising its position by 5.9% and Deutsche Bank by 24.8%.
• Torm recently announced a quarterly dividend of $0.40 per share, resulting in an annualized dividend of $1.60 and a yield of 7.3%.

Public Employees Retirement System of Ohio lowered its position in Torm Plc (NASDAQ:TRMD - Free Report) by 63.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,947 shares of the company's stock after selling 54,830 shares during the period. Public Employees Retirement System of Ohio's holdings in Torm were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TRMD. Vanguard Group Inc. raised its stake in shares of Torm by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 1,996,234 shares of the company's stock worth $32,688,000 after buying an additional 111,194 shares in the last quarter. Deutsche Bank AG grew its holdings in Torm by 24.8% during the first quarter. Deutsche Bank AG now owns 110,330 shares of the company's stock worth $1,818,000 after acquiring an additional 21,949 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Torm in the first quarter worth $1,536,000. Royal Bank of Canada lifted its holdings in Torm by 1,346.6% in the first quarter. Royal Bank of Canada now owns 87,285 shares of the company's stock valued at $1,438,000 after acquiring an additional 81,251 shares during the period. Finally, Midwest Professional Planners LTD. lifted its holdings in Torm by 2.7% in the first quarter. Midwest Professional Planners LTD. now owns 68,441 shares of the company's stock valued at $1,128,000 after acquiring an additional 1,814 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Fearnley Fonds cut shares of Torm from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Pareto Securities lowered shares of Torm from a "buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of Torm in a research report on Saturday, September 27th. Finally, Evercore ISI set a $23.00 price target on Torm and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.50.

Torm Stock Performance

NASDAQ:TRMD opened at $21.93 on Monday. The company has a market cap of $2.06 billion, a P/E ratio of 6.65 and a beta of 0.08. The firm's 50 day moving average is $21.08 and its two-hundred day moving average is $18.41. Torm Plc has a fifty-two week low of $13.60 and a fifty-two week high of $33.15. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.46.

Torm (NASDAQ:TRMD - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $208.20 million during the quarter, compared to analysts' expectations of $207.58 million. Torm had a net margin of 24.90% and a return on equity of 15.73%. Analysts expect that Torm Plc will post 6.27 EPS for the current year.

Torm Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 22nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Friday, August 22nd. Torm's dividend payout ratio (DPR) is 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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