Tweedy Browne Co LLC Makes New $318,000 Investment in Torm Plc $TRMD

Key Points

• Tweedy Browne Co LLC invested approximately $318,000 in Torm Plc, acquiring 19,093 shares during the second quarter.
• Institutional investors now own 73.89% of Torm's stock, with several hedge funds recently increasing their stakes, including Vanguard Group and Deutsche Bank.
• Torm announced a quarterly dividend of $0.40 per share, reflecting a yield of 7.8% and a payout ratio of 35.45%.

Tweedy Browne Co LLC acquired a new position in shares of Torm Plc (NASDAQ:TRMD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,093 shares of the company's stock, valued at approximately $318,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in 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 acquiring an additional 111,194 shares during the period. Deutsche Bank AG increased its stake in shares of Torm by 24.8% in the 1st quarter. Deutsche Bank AG now owns 110,330 shares of the company's stock valued at $1,818,000 after purchasing an additional 21,949 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Torm in the 1st quarter valued at $1,536,000. Royal Bank of Canada increased its stake in shares of Torm by 1,346.6% in the 1st quarter. Royal Bank of Canada now owns 87,285 shares of the company's stock valued at $1,438,000 after purchasing an additional 81,251 shares during the last quarter. Finally, Midwest Professional Planners LTD. increased its stake in shares of Torm by 2.7% in the 1st quarter. Midwest Professional Planners LTD. now owns 68,441 shares of the company's stock valued at $1,128,000 after purchasing an additional 1,814 shares during the last quarter. Institutional investors own 73.89% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TRMD. Fearnley Fonds lowered Torm from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Evercore ISI set a $23.00 price target on Torm and gave the company an "outperform" rating in a research note on Thursday, August 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Torm in a report on Wednesday, October 8th. Finally, Pareto Securities downgraded 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, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $27.50.

Torm Trading Up 3.0%

NASDAQ TRMD opened at $20.44 on Friday. 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 Plc has a twelve month low of $13.60 and a twelve month high of $30.20. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 6.19 and a beta of 0.08. The business's fifty day moving average is $21.27 and its 200 day moving average is $18.56.

Torm (NASDAQ:TRMD - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $208.20 million for the quarter, compared to the consensus estimate 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 expect that Torm Plc will post 6.27 EPS for the current fiscal 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.60 annualized dividend and a yield of 7.8%. 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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