Torm (NASDAQ:TRMD) CFO Sells 20,000 Shares

Torm Plc (NASDAQ:TRMD) CFO Kim Balle sold 20,000 shares of Torm stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $39.16, for a total value of $783,200.00. Following the sale, the chief financial officer directly owned 23,043 shares in the company, valued at approximately $902,363.88. This trade represents a 46.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kim Balle also recently made the following trade(s):

• On Tuesday, September 22nd, Kim Balle sold 7,533 shares of Torm stock. The stock was sold at an average price of $36.35, for a total value of $273,824.55.
• On Monday, September 21st, Kim Balle sold 15,000 shares of Torm stock. The stock was sold at an average price of $39.08, for a total value of $586,200.00.

Torm Stock Performance

TRMD opened at $34.42 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.27 and a quick ratio of 1.97. The business’s 50-day moving average price is $31.90 and its two-hundred day moving average price is $30.22. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 5.67 and a beta of 0.12. Torm Plc has a 1 year low of $19.30 and a 1 year high of $38.73.

Torm (NASDAQ:TRMD) last posted its earnings results on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). The company had revenue of $662.80 million during the quarter, compared to the consensus estimate of $499.01 million. Torm had a return on equity of 27.24% and a net margin of 35.51%.

Torm Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $2.40 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Torm’s previous quarterly dividend of $0.70. This represents a $9.60 annualized dividend and a dividend yield of 27.9%. Torm’s payout ratio is presently 115.32%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TRMD. Optiver Holding B.V. purchased a new stake in shares of Torm during the first quarter worth $67,000. Hilton Head Capital Partners LLC acquired a new position in Torm during the 4th quarter worth approximately $121,000. Bank of New York Mellon Corp acquired a new position in shares of Torm in the 1st quarter worth approximately $228,000. The Manufacturers Life Insurance Company acquired a new position in shares of Torm during the first quarter worth approximately $252,000. Finally, Allianz Asset Management GmbH bought a new stake in Torm during the second quarter worth approximately $267,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TRMD shares. Evercore restated an “outperform” rating and issued a $38.00 target price on shares of Torm in a research report on Wednesday, August 26th. Weiss Ratings raised Torm from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 11th. Finally, Wall Street Zen raised shares of Torm from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Torm currently has an average rating of “Buy” and an average target price of $38.00.

Torm Company Profile

TORM plc is an international product tanker company that transports refined oil products and other energy-related cargoes by sea. Its vessels carry products such as gasoline, jet fuel, diesel and other clean petroleum products between production, storage and consumption markets.

The company operates a fleet of product tankers across several size categories, including long-range, medium-range and Handysize vessels. TORM provides seaborne transportation services to oil companies, trading houses and other commercial customers, with operations serving major shipping routes and energy markets worldwide.

TORM traces its history to 1889 and is headquartered in Copenhagen, Denmark.