Torm Plc $TRMD Shares Sold by UBS Group AG

UBS Group AG trimmed its holdings in Torm Plc (NASDAQ:TRMD) by 34.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,639 shares of the company’s stock after selling 85,896 shares during the period. UBS Group AG’s holdings in Torm were worth $3,165,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Torm in the 3rd quarter valued at approximately $35,000. Tower Research Capital LLC TRC acquired a new position in shares of Torm in the 2nd quarter valued at approximately $46,000. Wexford Capital LP acquired a new position in shares of Torm in the 3rd quarter valued at approximately $120,000. Invesco Ltd. acquired a new position in shares of Torm in the 2nd quarter valued at approximately $190,000. Finally, PharVision Advisers LLC acquired a new position in shares of Torm in the 3rd quarter valued at approximately $214,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TRMD. Pareto Securities lowered Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. Evercore set a $35.00 target price on Torm in a research report on Tuesday, April 21st. Wall Street Zen upgraded Torm from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Torm Price Performance

Shares of NASDAQ TRMD opened at $31.29 on Monday. Torm Plc has a twelve month low of $15.79 and a twelve month high of $35.33. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 9.20 and a beta of 0.14. The business has a 50 day simple moving average of $29.89 and a 200-day simple moving average of $25.60.

Torm (NASDAQ:TRMD) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.15). Torm had a net margin of 24.45% and a return on equity of 15.81%. The firm had revenue of $402.00 million during the quarter, compared to the consensus estimate of $297.43 million.

Torm Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Thursday, May 28th. Torm’s payout ratio is 60.00%.

Insider Buying and Selling at Torm

In other news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $32.30, for a total value of $5,495,295.90. Following the completion of the sale, the chief executive officer directly owned 348,411 shares in the company, valued at approximately $11,253,675.30. The trade was a 32.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Torm Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.