Torm Plc $TRMD Shares Sold by UBS Group AG

UBS Group AG reduced its position in Torm Plc (NASDAQ:TRMD) by 34.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,639 shares of the company’s stock after selling 85,896 shares during the period. UBS Group AG owned approximately 0.17% of Torm worth $3,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Folketrygdfondet acquired a new position in shares of Torm in the 3rd quarter valued at about $1,796,000. Journey Advisory Group LLC acquired a new position in shares of Torm in the 3rd quarter valued at about $2,920,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Torm by 275.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,286 shares of the company’s stock valued at $1,785,000 after purchasing an additional 66,992 shares in the last quarter. Tweedy Browne Co LLC lifted its stake in shares of Torm by 109.5% in the 3rd quarter. Tweedy Browne Co LLC now owns 40,007 shares of the company’s stock valued at $825,000 after purchasing an additional 20,914 shares in the last quarter. Finally, Fox Run Management L.L.C. lifted its stake in shares of Torm by 309.3% in the 3rd quarter. Fox Run Management L.L.C. now owns 41,440 shares of the company’s stock valued at $854,000 after purchasing an additional 31,316 shares in the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TRMD shares. Pareto Securities lowered Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Torm from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Torm in a research note on Friday, April 17th. Finally, Evercore set a $35.00 price objective on Torm in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Torm Stock Performance

Torm stock opened at $31.29 on Monday. The stock’s 50 day moving average price is $29.89 and its 200 day moving average price is $25.60. The firm has a market capitalization of $3.19 billion, a PE ratio of 9.20 and a beta of 0.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. Torm Plc has a one year low of $15.79 and a one year high of $35.33.

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

Torm Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.80 annualized dividend and a yield of 8.9%. Torm’s payout ratio is 60.00%.

Insider Buying and Selling

In related news, CEO Jacob Balslev Meldgaard sold 379,014 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $31.94, for a total transaction of $12,105,707.16. Following the transaction, the chief executive officer directly owned 348,411 shares of the company’s stock, valued at approximately $11,128,247.34. The trade was a 52.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.