Kovack Advisors Inc. Purchases Shares of 10,474 Torm Plc $TRMD

Kovack Advisors Inc. bought a new stake in shares of Torm Plc (NASDAQ:TRMD) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,474 shares of the company’s stock, valued at approximately $174,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tweedy Browne Co LLC acquired a new position in shares of Torm during the 2nd quarter valued at $318,000. Commons Capital LLC acquired a new position in shares of Torm during the second quarter worth about $450,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Torm by 66.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,365 shares of the company’s stock worth $439,000 after purchasing an additional 10,522 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Torm by 39.9% during the first quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock worth $276,000 after purchasing an additional 4,776 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Torm by 1,346.6% during the 1st quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock worth $1,438,000 after acquiring an additional 81,251 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analyst Ratings Changes

TRMD has been the topic of several recent research reports. Pareto Securities lowered Torm from a “buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Evercore ISI set a $23.00 target price on shares of Torm and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Fearnley Fonds cut shares of Torm from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.50.

Torm Trading Down 1.3%

TRMD opened at $21.67 on Tuesday. The stock has a market capitalization of $2.04 billion, a PE ratio of 6.57 and a beta of 0.06. The firm’s fifty day moving average price is $21.58 and its 200 day moving average price is $19.14. 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 Plc has a 12-month low of $13.60 and a 12-month high of $25.65.

Torm (NASDAQ:TRMD) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $208.20 million for the quarter, compared to analysts’ expectations of $207.58 million. Torm had a net margin of 24.90% and a return on equity of 15.73%. As a group, research analysts expect that Torm Plc will post 6.27 EPS for the current fiscal year.

Torm Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 22nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date was Friday, August 22nd. Torm’s dividend payout ratio is 35.45%.

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.