Torm (NASDAQ:TRMD) CEO Jacob Balslev Meldgaard Sells 379,014 Shares of Stock

Torm Plc (NASDAQ:TRMD) CEO Jacob Balslev Meldgaard sold 379,014 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $31.94, for a total transaction of $12,105,707.16. Following the completion of the transaction, the chief executive officer directly owned 348,411 shares of the company’s stock, valued at $11,128,247.34. The trade was a 52.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Jacob Balslev Meldgaard also recently made the following trade(s):

• On Wednesday, May 20th, Jacob Balslev Meldgaard sold 170,133 shares of Torm stock. The shares were sold at an average price of $32.30, for a total transaction of $5,495,295.90.

Torm Trading Up 3.2%

Shares of TRMD stock opened at $32.70 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 9.62 and a beta of 0.14. The firm has a 50-day moving average price of $29.73 and a 200 day moving average price of $25.46. Torm Plc has a twelve month low of $15.79 and a twelve month high of $35.33.

Torm (NASDAQ:TRMD) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.15). The business had revenue of $402.00 million during the quarter, compared to analysts’ expectations of $297.43 million. Torm had a net margin of 24.45% and a return on equity of 15.81%.

Torm Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be issued a $0.70 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.80 annualized dividend and a yield of 8.6%. Torm’s payout ratio is 60.00%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Pareto Securities cut Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a report on Friday, April 17th. Wall Street Zen upgraded Torm from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Evercore set a $35.00 target price on Torm in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Investors Weigh In On Torm

Several institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC raised its position in shares of Torm by 2.6% during the 3rd quarter. NewEdge Advisors LLC now owns 18,109 shares of the company’s stock valued at $373,000 after acquiring an additional 459 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Torm by 1.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company’s stock valued at $615,000 after acquiring an additional 477 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Torm by 3.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company’s stock valued at $431,000 after acquiring an additional 479 shares in the last quarter. Midwest Professional Planners LTD. raised its position in shares of Torm by 0.5% during the 1st quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company’s stock valued at $2,553,000 after acquiring an additional 495 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Torm by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock valued at $1,385,000 after acquiring an additional 611 shares in the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

About Torm

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.