Public Employees Retirement System of Ohio Has $2.19 Million Stock Position in Torm Plc $TRMD

Public Employees Retirement System of Ohio increased its stake in shares of Torm Plc (NASDAQ:TRMD) by 153.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,203 shares of the company’s stock after acquiring an additional 47,386 shares during the period. Public Employees Retirement System of Ohio’s holdings in Torm were worth $2,190,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in Torm during the fourth quarter valued at approximately $24,830,000. Brevan Howard Capital Management LP acquired a new position in shares of Torm during the 2nd quarter worth approximately $7,523,000. Sei Investments Co. acquired a new position in shares of Torm during the 1st quarter worth approximately $7,705,000. Marnell Management LLC bought a new stake in shares of Torm during the 4th quarter worth approximately $4,815,000. Finally, Fearnley Asset Management AS acquired a new stake in shares of Torm in the 4th quarter valued at approximately $4,048,000. Institutional investors own 73.89% of the company’s stock.

Torm Stock Performance

Shares of NASDAQ TRMD opened at $30.31 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. Torm Plc has a 12 month low of $18.00 and a 12 month high of $35.33. The stock has a 50 day moving average of $28.92 and a 200-day moving average of $28.29. The company has a market capitalization of $3.09 billion, a P/E ratio of 8.91 and a beta of 0.10.

Torm (NASDAQ:TRMD) last posted its earnings results 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 return on equity of 15.81% and a net margin of 24.45%.The business had revenue of $402.00 million for the quarter, compared to analyst estimates of $297.43 million.

Torm Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a $0.70 dividend. 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 dividend payout ratio is presently 60.00%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Jacob Balslev Meldgaard sold 170,133 shares of Torm stock in a transaction dated 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 owned 348,411 shares of the company’s stock, valued at approximately $11,253,675.30. The trade was a 32.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

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.