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Universal Beteiligungs und Servicegesellschaft mbH Makes New $1.54 Million Investment in Torm Plc (NASDAQ:TRMD)

Torm logo with Transportation background

Key Points

  • Universal Beteiligungs und Servicegesellschaft mbH has made a new investment in Torm Plc, acquiring 93,217 shares valued at approximately $1.54 million, representing 0.10% ownership as per the latest SEC filing.
  • Several institutional investors, including Vanguard Group and Millennium Management, significantly increased their stakes in Torm during the fourth quarter, indicating strong institutional interest.
  • Torm recently cut its dividend to $0.40 per share, resulting in an annual yield of 8.7%, amid a reported EPS of $0.62, missing analyst expectations.
  • Five stocks to consider instead of TORM.
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Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Torm Plc (NASDAQ:TRMD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 93,217 shares of the company's stock, valued at approximately $1,536,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.10% of Torm as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TRMD. Vanguard Group Inc. increased its holdings in shares of Torm by 22.4% in the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock worth $36,417,000 after acquiring an additional 345,463 shares during the period. Norges Bank bought a new position in Torm in the 4th quarter worth about $21,273,000. Renaissance Technologies LLC increased its stake in shares of Torm by 24.3% in the fourth quarter. Renaissance Technologies LLC now owns 561,889 shares of the company's stock valued at $10,929,000 after purchasing an additional 109,916 shares during the period. Millennium Management LLC increased its stake in shares of Torm by 439.0% in the fourth quarter. Millennium Management LLC now owns 430,399 shares of the company's stock valued at $8,371,000 after purchasing an additional 350,555 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Torm by 353.5% during the fourth quarter. Jane Street Group LLC now owns 187,998 shares of the company's stock valued at $3,613,000 after buying an additional 262,149 shares during the last quarter. 73.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Evercore ISI decreased their price objective on Torm from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Fearnley Fonds upgraded Torm from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Pareto Securities raised Torm from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.50.

Read Our Latest Research Report on TRMD

Torm Stock Down 2.6%

TRMD stock opened at $18.40 on Friday. The firm's 50-day moving average is $17.66 and its two-hundred day moving average is $17.82. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 3.88 and a beta of 0.14. Torm Plc has a 52 week low of $13.60 and a 52 week high of $39.04. The company has a current ratio of 2.55, a quick ratio of 2.28 and a debt-to-equity ratio of 0.48.

Torm (NASDAQ:TRMD - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.02). The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $244.25 million. Torm had a return on equity of 22.40% and a net margin of 32.20%. On average, analysts forecast 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 was paid on Wednesday, June 4th. Investors of record on Thursday, May 22nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.60 annualized dividend and a yield of 8.7%. Torm's dividend payout ratio (DPR) is currently 24.47%.

Torm Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Torm (NASDAQ:TRMD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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