276,155 Shares in Torm Plc $TRMD Bought by Sei Investments Co.

Sei Investments Co. bought a new position in shares of Torm Plc (NASDAQ:TRMD) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 276,155 shares of the company’s stock, valued at approximately $7,705,000. Sei Investments Co. owned 0.27% of Torm at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TRMD. Royal Bank of Canada raised its position in shares of Torm by 1,346.6% during the first quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock worth $1,438,000 after acquiring an additional 81,251 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Torm by 39.9% in the first quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock valued at $276,000 after acquiring an additional 4,776 shares during the last quarter. Geode Capital Management LLC increased its position in Torm by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock valued at $1,385,000 after purchasing an additional 611 shares during the period. Cetera Investment Advisers increased its position in Torm by 22.4% during the 2nd quarter. Cetera Investment Advisers now owns 17,610 shares of the company’s stock valued at $293,000 after purchasing an additional 3,221 shares during the period. Finally, Invesco Ltd. bought a new position in Torm during the 2nd quarter worth approximately $190,000. Institutional investors own 73.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a research report on Wednesday, July 15th. Wall Street Zen raised shares of Torm from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Evercore restated an “outperform” rating and issued a $37.00 target price on shares of Torm in a report on Wednesday, July 22nd. Finally, Pareto Securities cut shares of Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Torm Stock Performance

Shares of TRMD stock opened at $30.31 on Monday. Torm Plc has a fifty-two week low of $18.00 and a fifty-two week high of $35.33. 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 has a 50 day simple moving average of $28.92 and a two-hundred day simple moving average of $28.33. The company 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 posted its quarterly 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 the consensus estimate of $297.43 million. Torm had a return on equity of 15.81% and a net margin of 24.45%.

Torm Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid 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 yield of 9.2%. Torm’s dividend payout ratio is currently 60.00%.

Insider Transactions at Torm

In other Torm news, CEO Jacob Balslev Meldgaard sold 379,014 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $31.94, for a total value of $12,105,707.16. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

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.