Counterpoint Mutual Funds LLC Invests $496,000 in Torm Plc $TRMD

Counterpoint Mutual Funds LLC bought a new position in shares of Torm Plc (NASDAQ:TRMD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,061 shares of the company’s stock, valued at approximately $496,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRMD. Journey Advisory Group LLC acquired a new position in shares of Torm during the 3rd quarter worth about $2,920,000. Vanguard Group Inc. increased its position 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 acquiring an additional 94,175 shares during the last quarter. State of Wyoming bought a new stake in Torm during the third quarter worth about $254,000. Midwest Professional Planners LTD. boosted its position in Torm by 3.9% during the third quarter. Midwest Professional Planners LTD. now owns 55,398 shares of the company’s stock valued at $1,142,000 after purchasing an additional 2,057 shares during the last quarter. Finally, Folketrygdfondet acquired a new position in Torm during the third quarter valued at approximately $1,796,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

Torm Trading Up 1.5%

Shares of NASDAQ:TRMD opened at $27.67 on Wednesday. Torm Plc has a 52-week low of $13.60 and a 52-week high of $27.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37. The company has a market capitalization of $2.60 billion, a P/E ratio of 10.17 and a beta of 0.04. The company has a 50-day simple moving average of $22.92 and a 200 day simple moving average of $21.97.

Analysts Set New Price Targets

Separately, Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Torm has a consensus rating of “Hold” and an average target price of $23.00.

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.