Arrowstreet Capital Limited Partnership Acquires 21,280 Shares of Torm Plc $TRMD

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Torm Plc (NASDAQ:TRMD) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,064,258 shares of the company’s stock after purchasing an additional 21,280 shares during the period. Arrowstreet Capital Limited Partnership owned 3.00% of Torm worth $86,032,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TRMD. NewEdge Advisors LLC increased its stake in shares of Torm by 2.6% in the third quarter. NewEdge Advisors LLC now owns 18,109 shares of the company’s stock valued at $373,000 after buying an additional 459 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Torm by 1.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company’s stock worth $615,000 after buying an additional 477 shares during the period. Pictet Asset Management Holding SA raised its stake in Torm by 3.3% during the first quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company’s stock worth $431,000 after buying an additional 479 shares during the last quarter. Midwest Professional Planners LTD. lifted its holdings in Torm by 0.5% in the first quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company’s stock valued at $2,553,000 after buying an additional 495 shares during the period. Finally, Geode Capital Management LLC lifted its holdings 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 buying an additional 611 shares during the period. Institutional investors own 73.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRMD. Evercore reaffirmed an “outperform” rating and set a $37.00 price target on shares of Torm in a research report on Wednesday. Wall Street Zen downgraded Torm from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a research report on Wednesday, July 15th. Finally, Pareto Securities cut Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Buying and Selling at Torm

In related news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total value of $5,495,295.90. Following the sale, the chief executive officer owned 348,411 shares in the company, valued at $11,253,675.30. This represents a 32.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is owned by corporate insiders.

Torm Price Performance

Shares of NASDAQ:TRMD opened at $30.28 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. Torm Plc has a 52-week low of $18.00 and a 52-week high of $35.33. The business’s 50 day simple moving average is $29.13 and its two-hundred day simple moving average is $28.05. The firm has a market cap of $3.09 billion, a P/E ratio of 8.91 and a beta of 0.10.

Torm (NASDAQ:TRMD) last released its quarterly earnings data on Wednesday, May 13th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.15). The firm 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 announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.80 annualized dividend and a dividend yield of 9.2%. Torm’s payout ratio is presently 60.00%.

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.