Two Sigma Advisers LP Has $16.36 Million Position in TORM plc (NASDAQ:TRMD)

Two Sigma Advisers LP cut its stake in shares of TORM plc (NASDAQ:TRMD - Free Report) by 33.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 841,000 shares of the company's stock after selling 425,900 shares during the quarter. Two Sigma Advisers LP owned approximately 0.89% of TORM worth $16,357,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRMD. Jones Financial Companies Lllp lifted its holdings in shares of TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after acquiring an additional 1,939 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of TORM by 8.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after buying an additional 711 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of TORM by 26.1% in the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock valued at $208,000 after buying an additional 2,219 shares in the last quarter. Aristides Capital LLC acquired a new stake in shares of TORM in the fourth quarter valued at $216,000. Finally, NewEdge Advisors LLC increased its stake in shares of TORM by 16.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock valued at $233,000 after buying an additional 1,685 shares in the last quarter. 73.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRMD shares. Evercore ISI lowered their target price on TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Pareto Securities upgraded TORM from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Kepler Capital Markets lowered TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Finally, Fearnley Fonds upgraded TORM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TORM presently has an average rating of "Moderate Buy" and a consensus target price of $27.50.

TORM Trading Up 1.9%

Shares of TORM stock traded up $0.33 during trading on Tuesday, hitting $17.26. 270,728 shares of the company were exchanged, compared to its average volume of 952,966. TORM plc has a 1-year low of $13.60 and a 1-year high of $40.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The firm has a market capitalization of $1.62 billion, a P/E ratio of 2.23 and a beta of 0.12. The firm's fifty day moving average price is $16.49 and its 200 day moving average price is $18.78.

TORM (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.02). The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. As a group, sell-side analysts expect that TORM plc will post 6.27 earnings per share for the current fiscal year.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Thursday, May 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 9.27%. The ex-dividend date is Thursday, May 22nd. TORM's payout ratio is 24.47%.

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.