Trexquant Investment LP Sells 76,456 Shares of Torm Plc $TRMD

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.

Trexquant Investment LP cut its holdings in Torm Plc (NASDAQ:TRMD - Free Report) by 61.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 large investors have also recently bought and sold shares of TRMD. Wealth Preservation Advisors LLC bought a new stake in Torm in the first quarter worth $69,000. CWM LLC boosted its holdings in Torm by 1,712.3% in the first quarter. CWM LLC now owns 5,292 shares of the company's stock worth $87,000 after purchasing an additional 5,000 shares in the last quarter. Hibernia Wealth Partners LLC bought a new stake in Torm in the first quarter worth $167,000. Larson Financial Group LLC boosted its holdings in Torm by 4,694.8% in the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company's stock worth $168,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Torm in the first quarter worth $184,000. 73.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRMD has been the subject of a number of recent research reports. Fearnley Fonds cut shares of Torm from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Pareto Securities lowered shares of Torm from a "buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Evercore ISI set a $23.00 target price on shares of Torm and gave the company an "outperform" rating in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $27.50.

Torm Stock Performance

NASDAQ:TRMD opened at $23.02 on Monday. Torm Plc has a 1 year low of $13.60 and a 1 year high of $36.78. The firm's fifty day simple moving average is $19.28 and its 200 day simple moving average is $17.88. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.16 billion, a PE ratio of 6.98 and a beta of 0.12.

Torm (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.58 earnings per share 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. On average, sell-side analysts anticipate that Torm Plc will post 6.27 EPS for the current 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 dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.0%. Torm's dividend payout ratio is currently 35.45%.

Torm 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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