Two Sigma Investments LP Sells 460,122 Shares of TORM plc (NASDAQ:TRMD)

Two Sigma Investments LP reduced its position in shares of TORM plc (NASDAQ:TRMD - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 534,755 shares of the company's stock after selling 460,122 shares during the period. Two Sigma Investments LP owned approximately 0.57% of TORM worth $10,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRMD. Millennium Management LLC grew its stake in shares of TORM by 439.0% in the 4th quarter. Millennium Management LLC now owns 430,399 shares of the company's stock worth $8,371,000 after purchasing an additional 350,555 shares during the last quarter. Deutsche Bank AG boosted its position in TORM by 14.2% during the 4th quarter. Deutsche Bank AG now owns 88,381 shares of the company's stock worth $1,719,000 after acquiring an additional 10,970 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in TORM by 104.1% during 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 purchasing an additional 16,360 shares in the last quarter. Bridgefront Capital LLC purchased a new position in shares of TORM during the 4th quarter valued at $270,000. Finally, Jane Street Group LLC increased 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 worth $3,613,000 after acquiring an additional 262,149 shares during the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

TORM Price Performance

TRMD stock traded down $0.22 during trading on Friday, hitting $15.82. 397,279 shares of the stock traded hands, compared to its average volume of 957,289. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 2.05 and a beta of 0.12. The company has a 50 day simple moving average of $16.35 and a 200 day simple moving average of $18.70. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. TORM plc has a one year low of $13.60 and a one year high of $40.47.

TORM (NASDAQ:TRMD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.02). The business had revenue of $214.00 million for 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%. Equities analysts expect that TORM plc will post 6.27 EPS for the current fiscal year.

TORM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 10.11%. TORM's dividend payout ratio (DPR) is currently 24.47%.

Analyst Upgrades and Downgrades

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

About TORM

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.