Torm Plc $TRMD Stock Holdings Increased by Folketrygdfondet

Folketrygdfondet increased its position in shares of Torm Plc (NASDAQ:TRMD) by 174.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,662 shares of the company’s stock after purchasing an additional 151,563 shares during the period. Torm accounts for approximately 0.3% of Folketrygdfondet’s portfolio, making the stock its 9th largest position. Folketrygdfondet owned 0.25% of Torm worth $4,673,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TRMD. Quarry LP purchased a new stake in shares of Torm in the third quarter valued at about $35,000. Tower Research Capital LLC TRC acquired a new stake in Torm in the second quarter valued at about $46,000. Wexford Capital LP acquired a new stake in Torm in the third quarter valued at about $120,000. Hilton Head Capital Partners LLC acquired a new stake in Torm in the fourth quarter valued at about $121,000. Finally, Invesco Ltd. acquired a new stake in shares of Torm during the 2nd quarter valued at approximately $190,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total transaction of $5,495,295.90. Following the completion of the sale, the chief executive officer directly owned 348,411 shares of the company’s stock, valued at $11,253,675.30. This represents a 32.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Torm Stock Performance

Torm stock opened at $28.95 on Friday. The firm’s fifty day moving average price is $30.58 and its 200 day moving average price is $26.21. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 8.51 and a beta of 0.08. Torm Plc has a 12-month low of $16.36 and a 12-month high of $35.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 1.20.

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

Torm Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend was Thursday, May 28th. Torm’s dividend payout ratio is currently 60.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TRMD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Torm in a research note on Friday, April 17th. Pareto Securities lowered shares of Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of Torm from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Evercore set a $35.00 target price on shares of Torm in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

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.