DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Purchases 16,360 Shares of TORM plc (NASDAQ:TRMD)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of TORM plc (NASDAQ:TRMD) by 104.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,071 shares of the company’s stock after acquiring an additional 16,360 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in TORM were worth $624,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TRMD. Jones Financial Companies Lllp raised its position in TORM by 49.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after purchasing an additional 1,939 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of TORM by 8.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock valued at $175,000 after buying an additional 711 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of TORM by 26.1% during the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock valued at $208,000 after acquiring an additional 2,219 shares in the last quarter. Aristides Capital LLC purchased a new stake in TORM in the fourth quarter worth $216,000. Finally, NewEdge Advisors LLC boosted its holdings in TORM by 16.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,964 shares of the company’s stock valued at $233,000 after acquiring an additional 1,685 shares in the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

TORM Stock Performance

Shares of TORM stock opened at $16.49 on Monday. TORM plc has a 12 month low of $13.60 and a 12 month high of $40.47. The firm has a market capitalization of $1.55 billion, a P/E ratio of 2.13 and a beta of 0.12. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $16.69 and a two-hundred day simple moving average of $19.41.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). The business had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $244.25 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. On average, equities analysts forecast that TORM plc will post 6.27 earnings per share for the current fiscal year.

TORM Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd will be given a $0.40 dividend. The ex-dividend date is Thursday, May 22nd. TORM’s dividend payout ratio is currently 27.43%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TRMD shares. Evercore ISI dropped their target price on shares of TORM from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Kepler Capital Markets lowered shares of TORM from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th. Finally, Fearnley Fonds raised TORM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.