Tweedy Browne Co LLC Buys 20,914 Shares of Torm Plc $TRMD

Tweedy Browne Co LLC boosted its stake in shares of Torm Plc (NASDAQ:TRMD) by 109.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,007 shares of the company’s stock after buying an additional 20,914 shares during the quarter. Tweedy Browne Co LLC’s holdings in Torm were worth $825,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Torm by 4.2% in the third quarter. Vanguard Group Inc. now owns 2,329,728 shares of the company’s stock valued at $47,960,000 after buying an additional 94,175 shares during the period. Norges Bank acquired a new position in shares of Torm in the second quarter worth approximately $20,998,000. Brevan Howard Capital Management LP acquired a new position in shares of Torm in the second quarter worth approximately $7,523,000. Barclays PLC boosted its holdings in Torm by 613.2% in the third quarter. Barclays PLC now owns 206,508 shares of the company’s stock valued at $4,258,000 after acquiring an additional 177,551 shares during the last quarter. Finally, Journey Advisory Group LLC bought a new stake in Torm in the third quarter valued at approximately $2,920,000. Institutional investors own 73.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TRMD. Wall Street Zen upgraded shares of Torm from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Evercore reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Torm in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Torm currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Torm Stock Performance

Shares of Torm stock opened at $24.85 on Wednesday. The business has a 50-day moving average price of $25.42 and a two-hundred day moving average price of $22.77. Torm Plc has a 1-year low of $13.60 and a 1-year high of $31.76. The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.34 billion, a P/E ratio of 8.75 and a beta of -0.01.

Torm (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. Torm had a return on equity of 13.26% and a net margin of 21.29%.The company had revenue of $347.60 million for the quarter, compared to the consensus estimate of $236.21 million. As a group, analysts anticipate that Torm Plc will post 6.27 EPS for the current year.

Torm Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Thursday, March 12th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 11.3%. This is a boost from Torm’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, March 12th. Torm’s payout ratio is presently 71.83%.

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.