22,601 Torm Plc $TRMD Shares Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. grew its holdings in shares of Torm Plc (NASDAQ:TRMD) by 82.7% in the third quarter, Holdings Channel.com reports. The firm owned 49,941 shares of the company’s stock after buying an additional 22,601 shares during the period. SBI Securities Co. Ltd.’s holdings in Torm were worth $1,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Torm by 0.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,064,258 shares of the company’s stock worth $86,032,000 after purchasing an additional 21,280 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Torm in the first quarter valued at approximately $7,705,000. Bank of America Corp DE lifted its stake in shares of Torm by 209.8% during the 1st quarter. Bank of America Corp DE now owns 130,421 shares of the company’s stock valued at $3,639,000 after buying an additional 88,318 shares in the last quarter. Swiss National Bank lifted its stake in shares of Torm by 5.6% during the 1st quarter. Swiss National Bank now owns 122,854 shares of the company’s stock valued at $3,482,000 after buying an additional 6,483 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Torm during the 2nd quarter valued at approximately $2,632,000. Institutional investors own 73.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRMD. Evercore reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Torm in a report on Wednesday, August 26th. Weiss Ratings upgraded shares of Torm from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. Finally, Wall Street Zen raised shares of Torm from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Torm presently has a consensus rating of “Buy” and an average target price of $38.00.

Insider Buying and Selling at Torm

In other news, CFO Kim Balle sold 7,533 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $36.35, for a total transaction of $273,824.55. Following the sale, the chief financial officer directly owned 510 shares in the company, valued at $18,538.50. This represents a 93.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 42,533 shares of company stock worth $1,643,225 in the last quarter. Corporate insiders own 0.37% of the company’s stock.

Torm Stock Performance

NASDAQ:TRMD opened at $39.89 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.97 and a current ratio of 2.27. Torm Plc has a 52-week low of $19.30 and a 52-week high of $41.86. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 6.35 and a beta of 0.07. The business’s fifty day moving average is $35.86 and its 200 day moving average is $31.97.

Torm (NASDAQ:TRMD) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). Torm had a return on equity of 27.24% and a net margin of 35.51%. The company had revenue of $662.80 million for the quarter, compared to analysts’ expectations of $499.01 million.

Torm Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a dividend of $2.40 per share. This represents a $9.60 dividend on an annualized basis and a yield of 24.1%. The ex-dividend date of this dividend was Thursday, September 10th. This is a boost from Torm’s previous quarterly dividend of $0.70. Torm’s payout ratio is presently 115.49%.

Torm Profile

TORM plc is a maritime transportation company that owns and operates a fleet of product tankers. The company primarily transports refined petroleum products, including gasoline, diesel, jet fuel and naphtha, connecting refineries, storage facilities and distribution markets around the world.

TORM’s fleet serves the global clean-product tanker market and includes vessels in several size categories, such as long-range and medium-range tankers. Its vessels operate on international trade routes, supporting the movement of energy products between major production and consumption regions.

Founded in Denmark in 1889, TORM has grown into an international shipping company headquartered in Copenhagen.