Fearnley Asset Management AS Makes New $4.05 Million Investment in Torm Plc $TRMD

Fearnley Asset Management AS purchased a new position in Torm Plc (NASDAQ:TRMD) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 202,849 shares of the company’s stock, valued at approximately $4,048,000. Torm accounts for 1.9% of Fearnley Asset Management AS’s portfolio, making the stock its 17th largest holding. Fearnley Asset Management AS owned 0.22% of Torm as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP bought a new stake in Torm during the third quarter worth approximately $35,000. Tower Research Capital LLC TRC bought a new position in Torm during the 2nd quarter valued at $46,000. Wexford Capital LP bought a new position in Torm during the 3rd quarter valued at $120,000. Hilton Head Capital Partners LLC acquired a new position in shares of Torm during the 4th quarter valued at $121,000. Finally, Invesco Ltd. acquired a new position in shares of Torm during the 2nd quarter valued at $190,000. 73.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRMD has been the topic of a number of research reports. Evercore set a $35.00 price objective on Torm in a research note on Tuesday, April 21st. Pareto Securities cut Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Torm in a report on Friday, April 17th. Finally, Wall Street Zen cut shares of Torm from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Activity

In other news, CEO Jacob Balslev Meldgaard sold 379,014 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $31.94, for a total transaction of $12,105,707.16. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by insiders.

Torm Stock Performance

Shares of NASDAQ:TRMD opened at $29.41 on Friday. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 8.65 and a beta of 0.08. Torm Plc has a 1-year low of $16.36 and a 1-year high of $35.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. The company has a 50 day moving average price of $30.64 and a 200 day moving average price of $26.53.

Torm (NASDAQ:TRMD) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share (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 analyst estimates of $297.43 million. Torm had a return on equity of 15.81% and a net margin of 24.45%.

Torm Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date was Thursday, May 28th. Torm’s payout ratio is presently 60.00%.

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.