Tweedy Browne Co LLC Acquires 20,914 Shares of Torm Plc $TRMD

Tweedy Browne Co LLC raised its holdings in Torm Plc (NASDAQ:TRMD) by 109.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,007 shares of the company’s stock after purchasing an additional 20,914 shares during the quarter. Tweedy Browne Co LLC’s holdings in Torm were worth $825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Torm during the 2nd quarter worth $20,998,000. Folketrygdfondet bought a new position in Torm in the third quarter valued at about $1,796,000. Journey Advisory Group LLC bought a new position in Torm in the third quarter valued at about $2,920,000. Counterpoint Mutual Funds LLC acquired a new position in Torm during the third quarter worth about $496,000. Finally, Weaver Consulting Group acquired a new position in Torm during the second quarter worth about $167,000. Institutional investors own 73.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Evercore reaffirmed an “outperform” rating and set a $34.00 price target on shares of Torm in a report on Thursday, February 26th. Wall Street Zen raised shares of Torm from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.00.

Torm Stock Performance

Shares of TRMD stock opened at $24.85 on Wednesday. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 8.75 and a beta of -0.01. The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $25.42 and its 200-day moving average price is $22.77. Torm Plc has a 12 month low of $13.60 and a 12 month high of $31.76.

Torm (NASDAQ:TRMD) last posted its earnings results on Thursday, February 26th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. Torm had a net margin of 21.29% and a return on equity of 13.26%. The business had revenue of $347.60 million for the quarter, compared to the consensus estimate of $236.21 million. Equities research analysts forecast that Torm Plc will post 6.27 EPS for the current year.

Torm Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is an increase from Torm’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 11.3%. Torm’s payout ratio is 71.83%.

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.