245,902 Shares in Torm Plc $TRMD Purchased by Marnell Management LLC

Marnell Management LLC bought a new stake in Torm Plc (NASDAQ:TRMD) in the fourth quarter, HoldingsChannel.com reports. The fund bought 245,902 shares of the company’s stock, valued at approximately $4,815,000. Torm comprises 2.3% of Marnell Management LLC’s holdings, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TRMD. Royal Bank of Canada boosted its stake in Torm by 1,346.6% in the first quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock valued at $1,438,000 after acquiring an additional 81,251 shares during the period. NewEdge Advisors LLC boosted its stake in Torm by 39.9% in the first quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock valued at $276,000 after acquiring an additional 4,776 shares during the period. Geode Capital Management LLC boosted its stake in Torm by 0.7% in the second quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock valued at $1,385,000 after acquiring an additional 611 shares during the period. Cetera Investment Advisers boosted its stake in Torm by 22.4% in the second quarter. Cetera Investment Advisers now owns 17,610 shares of the company’s stock valued at $293,000 after acquiring an additional 3,221 shares during the period. Finally, Invesco Ltd. acquired a new position in Torm in the second quarter valued at approximately $190,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on TRMD. Wall Street Zen downgraded Torm from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Pareto Securities downgraded Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Evercore set a $35.00 target price on Torm in a research note on Tuesday, April 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Torm in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Torm currently has an average rating of “Moderate Buy” and an average price target of $35.00.

Torm Stock Performance

TRMD opened at $30.40 on Monday. The business’s 50 day moving average is $30.63 and its 200-day moving average is $26.27. The stock has a market cap of $3.10 billion, a PE ratio of 8.94 and a beta of 0.08. 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 Plc has a twelve month low of $16.36 and a twelve month high of $35.33.

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

Torm Dividend Announcement

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

Insider Buying and Selling at Torm

In other news, CEO Jacob Balslev Meldgaard sold 170,133 shares of Torm stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $32.30, for a total transaction of $5,495,295.90. Following the sale, the chief executive officer owned 348,411 shares of the company’s stock, valued at approximately $11,253,675.30. The trade was a 32.81% decrease in their ownership of the stock. The transaction was disclosed in a 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.