Arrowstreet Capital Limited Partnership Sells 1,138,498 Shares of Torm Plc $TRMD

Arrowstreet Capital Limited Partnership lowered its position in shares of Torm Plc (NASDAQ:TRMD) by 27.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,045,268 shares of the company’s stock after selling 1,138,498 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Torm were worth $50,944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Torm by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock valued at $1,385,000 after purchasing an additional 611 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Torm by 2.5% in the second quarter. SBI Securities Co. Ltd. now owns 69,258 shares of the company’s stock worth $1,154,000 after buying an additional 1,722 shares in the last quarter. Cetera Investment Advisers boosted its stake in Torm by 22.4% during the second quarter. Cetera Investment Advisers now owns 17,610 shares of the company’s stock valued at $293,000 after buying an additional 3,221 shares during the period. Wealth Preservation Advisors LLC purchased a new position in Torm during the first quarter worth about $69,000. Finally, Compound Planning Inc. increased its stake in Torm by 22.4% in the 1st quarter. Compound Planning Inc. now owns 23,603 shares of the company’s stock worth $389,000 after acquiring an additional 4,312 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TRMD shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a research report on Wednesday, October 8th. Evercore ISI set a $23.00 price objective on shares of Torm and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Pareto Securities downgraded shares of Torm from a “buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.00.

Torm Stock Down 0.3%

Shares of NASDAQ TRMD opened at $21.27 on Friday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 7.82 and a beta of 0.01. Torm Plc has a one year low of $13.60 and a one year high of $23.67. The firm’s 50 day simple moving average is $21.47 and its two-hundred day simple moving average is $19.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 2.07.

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

Torm Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 20th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, November 20th. This is a positive change from Torm’s previous quarterly dividend of $0.40. This represents a $2.48 annualized dividend and a yield of 11.7%. Torm’s dividend payout ratio (DPR) is currently 66.54%.

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.