276,155 Shares in Torm Plc $TRMD Acquired by Sei Investments Co.

Sei Investments Co. purchased a new position in Torm Plc (NASDAQ:TRMD) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 276,155 shares of the company’s stock, valued at approximately $7,705,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings 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 worth $1,785,000 after purchasing an additional 66,992 shares in the last quarter. Norges Bank bought a new stake in Torm during the 4th quarter valued at $24,830,000. Marnell Management LLC bought a new stake in Torm during the 4th quarter valued at $4,815,000. Folketrygdfondet increased its stake in Torm by 174.0% during the 4th quarter. Folketrygdfondet now owns 238,662 shares of the company’s stock valued at $4,673,000 after purchasing an additional 151,563 shares in the last quarter. Finally, Fearnley Asset Management AS acquired a new position in Torm during the fourth quarter worth $4,048,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Torm Stock Performance

Shares of Torm stock opened at $30.31 on Monday. The stock has a fifty day simple moving average of $28.92 and a 200 day simple moving average of $28.33. Torm Plc has a 12-month low of $18.00 and a 12-month high of $35.33. The company has a market capitalization of $3.09 billion, a P/E ratio of 8.91 and a beta of 0.10. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35.

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

Torm Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a $0.70 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.80 annualized dividend and a dividend yield of 9.2%. Torm’s dividend payout ratio is currently 60.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TRMD shares. Pareto Securities lowered shares of Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Evercore reissued an “outperform” rating and set a $37.00 target price on shares of Torm in a research report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Torm from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Torm in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Activity at Torm

In related news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total transaction of $5,495,295.90. Following the transaction, the chief executive officer directly owned 348,411 shares of the company’s stock, valued at $11,253,675.30. This trade represents a 32.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is currently owned by corporate insiders.

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.