Atomi Financial Group Inc. Acquires 2,784 Shares of TORM plc (NASDAQ:TRMD)

Atomi Financial Group Inc. raised its holdings in TORM plc (NASDAQ:TRMD) by 22.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,461 shares of the company’s stock after buying an additional 2,784 shares during the quarter. Atomi Financial Group Inc.’s holdings in TORM were worth $529,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI purchased a new position in TORM during the 2nd quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in TORM in the fourth quarter worth about $27,000. Fifth Third Bancorp bought a new stake in TORM during the 2nd quarter valued at approximately $43,000. Syquant Capital Sas bought a new position in shares of TORM in the 2nd quarter worth approximately $46,000. Finally, Scarborough Advisors LLC bought a new stake in shares of TORM during the fourth quarter valued at approximately $37,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

TORM Stock Up 0.6 %

Shares of NASDAQ:TRMD opened at $32.12 on Friday. TORM plc has a 12-month low of $26.10 and a 12-month high of $40.47. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 4.05 and a beta of 0.24. The stock has a fifty day simple moving average of $35.44 and a two-hundred day simple moving average of $36.03. The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million for the quarter, compared to the consensus estimate of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same period in the prior year, the firm posted $2.14 EPS. On average, research analysts anticipate that TORM plc will post 7.1 earnings per share for the current fiscal year.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were issued a $1.80 dividend. This is a positive change from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a yield of 22.42%. The ex-dividend date of this dividend was Thursday, August 29th. TORM’s payout ratio is presently 66.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TRMD. Evercore ISI boosted their target price on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds raised shares of TORM to a “hold” rating in a research note on Friday, September 27th.

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.