Allianz Asset Management GmbH Has $1.33 Million Stake in Torm Plc $TRMD

Allianz Asset Management GmbH lowered its stake in shares of Torm Plc (NASDAQ:TRMD) by 41.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 64,670 shares of the company’s stock after selling 46,592 shares during the period. Allianz Asset Management GmbH’s holdings in Torm were worth $1,330,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TRMD. Norges Bank acquired a new stake in Torm during the second quarter worth about $20,998,000. Brevan Howard Capital Management LP bought a new stake in shares of Torm in the 2nd quarter worth approximately $7,523,000. Lind Value II ApS acquired a new stake in shares of Torm during the 2nd quarter worth approximately $7,283,000. Royal Bank of Canada increased its position in shares of Torm by 1,346.6% during the first quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock valued at $1,438,000 after purchasing an additional 81,251 shares during the period. Finally, Folketrygdfondet bought a new stake in shares of Torm during the third quarter valued at approximately $1,796,000. Institutional investors own 73.89% of the company’s stock.

Torm Stock Up 3.7%

NASDAQ TRMD opened at $25.89 on Friday. The stock’s 50 day simple moving average is $22.05 and its 200 day simple moving average is $21.56. Torm Plc has a one year low of $13.60 and a one year high of $25.95. The firm has a market cap of $2.43 billion, a PE ratio of 9.52 and a beta of 0.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 2.07.

Analyst Ratings Changes

Separately, Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Torm currently has an average rating of “Hold” and a consensus price target of $23.00.

Torm 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.