Moody Aldrich Partners LLC Takes $561,000 Position in Torm Plc $TRMD

Moody Aldrich Partners LLC bought a new position in Torm Plc (NASDAQ:TRMD) during the third quarter, according to its most recent filing with the SEC. The firm bought 27,269 shares of the company’s stock, valued at approximately $561,000.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in Torm by 64.0% during the third quarter. Exchange Traded Concepts LLC now owns 52,235 shares of the company’s stock worth $1,077,000 after buying an additional 20,381 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Torm by 134.3% in the 2nd quarter. Squarepoint Ops LLC now owns 41,169 shares of the company’s stock worth $686,000 after acquiring an additional 23,595 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Torm in the 2nd quarter worth about $46,000. Brevan Howard Capital Management LP bought a new position in Torm in the 2nd quarter valued at about $7,523,000. Finally, Raymond James Financial Inc. bought a new stake in Torm during the 2nd quarter worth approximately $348,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TRMD shares. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th. Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Torm currently has an average rating of “Hold” and an average target price of $23.00.

Torm Stock Up 0.2%

TRMD stock opened at $19.58 on Friday. The stock has a market cap of $1.84 billion, a P/E ratio of 7.20 and a beta of 0.04. The company has a current ratio of 2.37, a quick ratio of 2.07 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $21.20 and its two-hundred day simple moving average is $20.40. Torm Plc has a 1-year low of $13.60 and a 1-year high of $23.67.

Torm (NASDAQ:TRMD) last issued its quarterly earnings results 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 company had revenue of $342.60 million for the quarter, compared to the consensus estimate of $258.49 million. Analysts expect that Torm Plc will post 6.27 EPS for the current year.

Torm Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Thursday, November 20th were paid a $0.62 dividend. 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 12.7%. Torm’s dividend payout ratio (DPR) is currently 66.54%.

Torm Company Profile

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.