Marnell Management LLC Acquires Shares of 245,902 Torm Plc $TRMD

Marnell Management LLC acquired a new stake in Torm Plc (NASDAQ:TRMD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 245,902 shares of the company’s stock, valued at approximately $4,815,000. Torm accounts for approximately 2.3% of Marnell Management LLC’s investment portfolio, making the stock its 10th biggest holding. Marnell Management LLC owned about 0.26% of Torm at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Torm by 275.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,286 shares of the company’s stock valued at $1,785,000 after purchasing an additional 66,992 shares during the period. Journey Advisory Group LLC purchased a new position in Torm in the third quarter valued at about $2,920,000. Tweedy Browne Co LLC raised its position in Torm by 109.5% in the third quarter. Tweedy Browne Co LLC now owns 40,007 shares of the company’s stock valued at $825,000 after purchasing an additional 20,914 shares during the period. Fox Run Management L.L.C. raised its position in Torm by 309.3% in the third quarter. Fox Run Management L.L.C. now owns 41,440 shares of the company’s stock valued at $854,000 after purchasing an additional 31,316 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in Torm in the third quarter valued at about $496,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRMD. Wall Street Zen lowered Torm from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Pareto Securities lowered Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Torm in a research report on Friday, April 17th. Finally, Evercore set a $35.00 target price on Torm in a research report on Tuesday, April 21st. One investment 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Insider Buying and Selling

In related news, CEO Jacob Balslev Meldgaard sold 379,014 shares of Torm stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $31.94, for a total value of $12,105,707.16. Following the completion of the transaction, the chief executive officer directly owned 348,411 shares in the company, valued at approximately $11,128,247.34. This trade represents a 52.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Torm Price Performance

Shares of NASDAQ TRMD opened at $30.40 on Monday. Torm Plc has a 1 year low of $16.36 and a 1 year high of $35.33. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 8.94 and a beta of 0.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. The stock’s 50-day simple moving average is $30.63 and its 200-day simple moving average is $26.27.

Torm (NASDAQ:TRMD) last announced its earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.15). The business had revenue of $402.00 million for the quarter, compared to analysts’ expectations of $297.43 million. Torm had a return on equity of 15.81% and a net margin of 24.45%.

Torm Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date was Thursday, May 28th. Torm’s dividend payout ratio (DPR) is 60.00%.

About Torm

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.