Torm Plc $TRMD Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Torm Plc by 5.9%, owning approximately 2.12% of the company worth $32.7 million after purchasing an additional 111,194 shares in the first quarter.
• Torm Plc plans to issue a quarterly dividend of $0.40 per share on September 3rd, representing an annualized yield of 7.5%.
• Analysts have mixed ratings on Torm's stock, with an average target price of $27.50 and one investment analyst giving it a Strong Buy rating.

Vanguard Group Inc. grew its position in Torm Plc (NASDAQ:TRMD - Free Report) by 5.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,996,234 shares of the company's stock after buying an additional 111,194 shares during the period. Vanguard Group Inc. owned 2.12% of Torm worth $32,688,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Torm by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 82,466 shares of the company's stock worth $1,604,000 after acquiring an additional 840 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Torm by 16.4% in the 4th quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock valued at $233,000 after purchasing an additional 1,685 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Torm by 8.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after acquiring an additional 711 shares during the last quarter. Hsbc Holdings PLC raised its position in Torm by 49.2% during the 4th quarter. Hsbc Holdings PLC now owns 153,460 shares of the company's stock worth $2,959,000 after purchasing an additional 50,589 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in Torm during the 4th quarter worth $448,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRMD has been the subject of several research reports. Fearnley Fonds upgraded Torm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Pareto Securities cut shares of Torm from a "buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Evercore ISI set a $23.00 price objective on Torm and gave the stock an "outperform" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Torm Stock Up 0.5%

NASDAQ TRMD traded up $0.10 during mid-day trading on Friday, reaching $21.75. The stock had a trading volume of 418,094 shares, compared to its average volume of 883,188. Torm Plc has a 1 year low of $13.60 and a 1 year high of $36.78. The stock has a market cap of $2.04 billion, a PE ratio of 6.59 and a beta of 0.12. The company has a fifty day moving average price of $18.79 and a 200 day moving average price of $17.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.57 and a quick ratio of 2.30.

Torm (NASDAQ:TRMD - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. The business had revenue of $208.20 million during the quarter, compared to analyst estimates of $207.58 million. Torm had a net margin of 24.90% and a return on equity of 15.73%. On average, research analysts expect that Torm Plc will post 6.27 earnings per share for the current year.

Torm Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Friday, August 22nd. Torm's dividend payout ratio is currently 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.