Two Sigma Investments LP Lowers Stock Position in TORM plc (NASDAQ:TRMD)

Two Sigma Investments LP lowered its stake in shares of TORM plc (NASDAQ:TRMD - Free Report) by 46.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 534,755 shares of the company's stock after selling 460,122 shares during the quarter. Two Sigma Investments LP owned 0.57% of TORM worth $10,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TRMD. Barclays PLC increased its position in shares of TORM by 65.4% during the third quarter. Barclays PLC now owns 384,308 shares of the company's stock worth $13,140,000 after acquiring an additional 151,942 shares during the period. Atomi Financial Group Inc. increased its position in shares of TORM by 24.8% during the fourth quarter. Atomi Financial Group Inc. now owns 19,291 shares of the company's stock worth $375,000 after acquiring an additional 3,830 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of TORM during the fourth quarter worth $312,000. Apollon Wealth Management LLC increased its position in shares of TORM by 26.1% during the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock worth $208,000 after acquiring an additional 2,219 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its position in shares of TORM by 174.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 43,219 shares of the company's stock worth $841,000 after acquiring an additional 27,465 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.

TORM Price Performance

Shares of TRMD stock traded down $0.74 during midday trading on Wednesday, reaching $16.20. 1,005,002 shares of the company traded hands, compared to its average volume of 955,662. The firm's 50 day simple moving average is $16.44 and its two-hundred day simple moving average is $18.77. 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 cap of $1.52 billion, a PE ratio of 2.10 and a beta of 0.12.

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

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Thursday, May 22nd will be given 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 9.88%. TORM's dividend payout ratio is currently 24.47%.

Analyst Ratings Changes

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

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.