14,389 Shares in Torm Plc $TRMD Purchased by Cetera Investment Advisers

Cetera Investment Advisers bought a new position in shares of Torm Plc (NASDAQ:TRMD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,389 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Torm by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 82,466 shares of the company’s stock valued at $1,604,000 after buying an additional 840 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Torm by 14.4% in the fourth quarter. Legal & General Group Plc now owns 70,598 shares of the company’s stock valued at $1,357,000 after buying an additional 8,881 shares in the last quarter. Mariner LLC increased its holdings in shares of Torm by 129.3% in the fourth quarter. Mariner LLC now owns 41,382 shares of the company’s stock valued at $805,000 after buying an additional 23,337 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Torm by 310.3% in the fourth quarter. Jump Financial LLC now owns 24,173 shares of the company’s stock valued at $470,000 after buying an additional 18,282 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Torm by 16.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,964 shares of the company’s stock valued at $233,000 after buying an additional 1,685 shares in the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

Torm Stock Up 3.3%

Shares of Torm stock opened at $21.24 on Friday. The stock has a 50-day moving average price of $18.51 and a 200 day moving average price of $17.77. The company has a market cap of $2.00 billion, a P/E ratio of 6.44 and a beta of 0.12. The company has a current ratio of 2.57, a quick ratio of 2.28 and a debt-to-equity ratio of 0.46. Torm Plc has a 1 year low of $13.60 and a 1 year high of $38.98.

Torm (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $208.20 million during the quarter, compared to the consensus estimate of $207.58 million. Torm had a return on equity of 15.73% and a net margin of 24.90%. As a group, analysts expect that Torm Plc will post 6.27 EPS for the current fiscal year.

Torm Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, August 22nd. Torm’s dividend payout ratio is currently 35.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TRMD shares. Evercore ISI set a $23.00 price target on Torm and gave the company an “outperform” rating in a research report on Thursday, August 14th. Fearnley Fonds upgraded Torm from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, Pareto Securities lowered Torm from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

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.