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Trexquant Investment LP Trims Stock Holdings in Torm Plc $TRMD

Torm logo with Transportation background

Key Points

  • Trexquant Investment LP significantly reduced its stake in Torm Plc by selling 76,456 shares, resulting in a 61.9% decrease in holdings, leaving it with 47,064 shares valued at $776,000.
  • Institutional investors own approximately 73.89% of Torm's stock, with several firms, including CWM LLC and Larson Financial Group LLC, greatly increasing their stakes in the first quarter.
  • Torm recently announced a quarterly dividend of $0.40 per share, equating to an annualized yield of 7.0%, and the company's PE ratio stands at 6.98.
  • Five stocks to consider instead of Torm.

Trexquant Investment LP lowered its stake in Torm Plc (NASDAQ:TRMD - Free Report) by 61.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,064 shares of the company's stock after selling 76,456 shares during the period. Trexquant Investment LP owned approximately 0.05% of Torm worth $776,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TRMD. Jane Street Group LLC boosted its stake in shares of Torm by 353.5% in the fourth quarter. Jane Street Group LLC now owns 187,998 shares of the company's stock valued at $3,613,000 after buying an additional 262,149 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Torm by 104.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 32,071 shares of the company's stock valued at $624,000 after buying an additional 16,360 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Torm by 14.2% in the fourth quarter. Deutsche Bank AG now owns 88,381 shares of the company's stock valued at $1,719,000 after buying an additional 10,970 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Torm by 439.0% in the fourth quarter. Millennium Management LLC now owns 430,399 shares of the company's stock valued at $8,371,000 after buying an additional 350,555 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Torm by 225.7% in the fourth quarter. Mackenzie Financial Corp now owns 36,177 shares of the company's stock valued at $704,000 after buying an additional 25,071 shares in the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Torm Price Performance

Torm stock traded up $0.52 during trading hours on Friday, hitting $22.56. The stock had a trading volume of 825,024 shares, compared to its average volume of 797,364. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.57 and a quick ratio of 2.30. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 6.84 and a beta of 0.12. Torm Plc has a 1-year low of $13.60 and a 1-year high of $36.78. The stock's fifty day moving average is $19.85 and its two-hundred day moving average is $18.02.

Torm (NASDAQ:TRMD - Get Free Report) last issued 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. Torm had a return on equity of 15.73% and a net margin of 24.90%.The business had revenue of $208.20 million for the quarter, compared to the consensus estimate of $207.58 million. As a group, analysts predict that Torm Plc will post 6.27 earnings per share for the current fiscal year.

Torm Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 22nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Friday, August 22nd. Torm's dividend payout ratio is currently 35.45%.

Wall Street Analysts Forecast Growth

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

Read Our Latest Analysis on Torm

Torm Profile

(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.

Further Reading

Institutional Ownership by Quarter for Torm (NASDAQ:TRMD)

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