Midwest Professional Planners LTD. Sells 15,100 Shares of Torm Plc $TRMD

Midwest Professional Planners LTD. reduced its holdings in shares of Torm Plc (NASDAQ:TRMD) by 22.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,341 shares of the company’s stock after selling 15,100 shares during the period. Midwest Professional Planners LTD. owned 0.06% of Torm worth $889,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Torm by 5.9% during the first quarter. Vanguard Group Inc. now owns 1,996,234 shares of the company’s stock valued at $32,688,000 after purchasing an additional 111,194 shares in the last quarter. Lind Value II ApS purchased a new stake in shares of Torm in the 2nd quarter worth approximately $7,283,000. Deutsche Bank AG increased its position in Torm by 24.8% during the 1st quarter. Deutsche Bank AG now owns 110,330 shares of the company’s stock valued at $1,818,000 after buying an additional 21,949 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Torm in the first quarter worth $1,536,000. Finally, Royal Bank of Canada grew its stake in shares of Torm by 1,346.6% in the first quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock worth $1,438,000 after acquiring an additional 81,251 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI set a $23.00 price target on Torm and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a research note on Wednesday, October 8th. Fearnley Fonds raised shares of Torm from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Pareto Securities downgraded shares of Torm from a “buy” rating to a “hold” rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.00.

Torm Price Performance

Shares of NASDAQ:TRMD opened at $23.02 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 8.46 and a beta of 0.06. The business has a 50-day simple moving average of $21.72 and a two-hundred day simple moving average of $19.56. Torm Plc has a fifty-two week low of $13.60 and a fifty-two week high of $24.38.

Torm (NASDAQ:TRMD) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. The firm had revenue of $342.60 million during the quarter, compared to analyst estimates of $258.49 million. Torm had a net margin of 21.37% and a return on equity of 13.03%. On average, analysts expect that Torm Plc will post 6.27 earnings per share for the current year.

Torm Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 20th will be given a $0.62 dividend. This is a boost from Torm’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $2.48 dividend on an annualized basis and a yield of 10.8%. Torm’s payout ratio is presently 43.01%.

About Torm

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.