TORM plc (NASDAQ:TRMD) Stock Holdings Trimmed by Glenorchy Capital Ltd

Glenorchy Capital Ltd lessened its position in shares of TORM plc (NASDAQ:TRMD) by 11.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,996 shares of the company’s stock after selling 3,370 shares during the period. Glenorchy Capital Ltd’s holdings in TORM were worth $923,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TRMD. Marshall Wace LLP raised its stake in TORM by 860.9% during the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock worth $55,441,000 after acquiring an additional 1,281,176 shares during the period. Acadian Asset Management LLC raised its position in shares of TORM by 320.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after purchasing an additional 964,801 shares during the period. Vanguard Group Inc. raised its position in shares of TORM by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock worth $41,221,000 after purchasing an additional 85,937 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of TORM by 38.9% in the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock worth $25,945,000 after purchasing an additional 187,300 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in TORM by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 355,151 shares of the company’s stock valued at $13,769,000 after purchasing an additional 8,185 shares during the period. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

TORM Stock Up 0.4 %

Shares of TORM stock opened at $30.02 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94. TORM plc has a 1-year low of $26.10 and a 1-year high of $40.47. The business’s fifty day moving average price is $34.61 and its two-hundred day moving average price is $35.83. The company has a market capitalization of $2.45 billion, a P/E ratio of 3.79 and a beta of 0.24.

TORM (NASDAQ:TRMD) last posted its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. The business had revenue of $437.70 million during 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 quarter in the prior year, the company posted $2.14 earnings per share. As a group, research analysts forecast that TORM plc will post 7.12 EPS for the current year.

TORM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were issued a dividend of $1.80 per share. This is a boost from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a dividend yield of 23.98%. The ex-dividend date was Thursday, August 29th. TORM’s dividend payout ratio (DPR) is currently 66.29%.

TORM 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.