Torm Plc $TRMD Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lowered its stake in Torm Plc (NASDAQ:TRMD) by 1.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 734,172 shares of the company’s stock after selling 10,430 shares during the quarter. Acadian Asset Management LLC’s holdings in Torm were worth $12,078,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of TRMD. Deutsche Bank AG grew its stake in Torm by 14.2% during the 4th quarter. Deutsche Bank AG now owns 88,381 shares of the company’s stock valued at $1,719,000 after purchasing an additional 10,970 shares in the last quarter. Millennium Management LLC grew its stake in Torm by 439.0% during the 4th quarter. Millennium Management LLC now owns 430,399 shares of the company’s stock valued at $8,371,000 after purchasing an additional 350,555 shares in the last quarter. Mackenzie Financial Corp grew its stake in Torm by 225.7% during the 4th quarter. Mackenzie Financial Corp now owns 36,177 shares of the company’s stock valued at $704,000 after purchasing an additional 25,071 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Torm by 63.9% during the 1st quarter. CWA Asset Management Group LLC now owns 65,159 shares of the company’s stock valued at $1,074,000 after purchasing an additional 25,399 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in Torm by 23.7% during the 1st quarter. PSI Advisors LLC now owns 52,387 shares of the company’s stock valued at $863,000 after purchasing an additional 10,020 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analyst Upgrades and Downgrades

TRMD has been the subject of a number of recent analyst reports. Fearnley Fonds lowered Torm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Pareto Securities lowered Torm from a “buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, Evercore ISI set a $23.00 price objective on Torm and gave the company an “outperform” rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.50.

Torm Trading Down 2.2%

NASDAQ:TRMD opened at $22.04 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $19.74 and its two-hundred day moving average is $17.99. Torm Plc has a 52 week low of $13.60 and a 52 week high of $36.78. The company has a market cap of $2.07 billion, a PE ratio of 6.68 and a beta of 0.12.

Torm (NASDAQ:TRMD) last released its earnings results on Thursday, August 14th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $208.20 million for the quarter, compared to the consensus estimate of $207.58 million. Torm had a return on equity of 15.73% and a net margin of 24.90%. On average, analysts predict that Torm Plc will post 6.27 EPS for the current year.

Torm Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 22nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 7.3%. Torm’s dividend payout ratio (DPR) is 35.45%.

Torm 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.