PSI Advisors LLC Increases Position in Torm Plc (NASDAQ:TRMD)

PSI Advisors LLC boosted its holdings in shares of Torm Plc (NASDAQ:TRMD) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,387 shares of the company’s stock after acquiring an additional 10,020 shares during the period. PSI Advisors LLC’s holdings in Torm were worth $863,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in shares of Torm by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock worth $175,000 after purchasing an additional 711 shares during the period. Geode Capital Management LLC boosted its position in shares of Torm by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 82,466 shares of the company’s stock worth $1,604,000 after purchasing an additional 840 shares during the period. NewEdge Advisors LLC boosted its position in shares of Torm by 16.4% during the 4th quarter. NewEdge Advisors LLC now owns 11,964 shares of the company’s stock worth $233,000 after purchasing an additional 1,685 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Torm by 49.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock worth $114,000 after purchasing an additional 1,939 shares during the period. Finally, U S Global Investors Inc. boosted its position in shares of Torm by 26.3% during the 4th quarter. U S Global Investors Inc. now owns 12,620 shares of the company’s stock worth $245,000 after purchasing an additional 2,625 shares during the period. Hedge funds and other institutional investors own 73.89% of the company’s stock.

Torm Price Performance

Torm stock opened at $19.03 on Wednesday. The firm has a market cap of $1.79 billion, a PE ratio of 4.01 and a beta of 0.13. Torm Plc has a 52-week low of $13.60 and a 52-week high of $40.47. The company has a quick ratio of 2.28, a current ratio of 2.55 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $16.71 and its two-hundred day moving average is $18.21.

Torm (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). Torm had a net margin of 32.20% and a return on equity of 22.40%. The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. On average, research analysts expect that Torm Plc will post 6.27 EPS for the current fiscal year.

Torm Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 22nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.41%. The ex-dividend date was Thursday, May 22nd. Torm’s dividend payout ratio (DPR) is 24.68%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TRMD. Fearnley Fonds raised shares of Torm from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Pareto Securities upgraded shares of Torm from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Kepler Capital Markets lowered shares of Torm from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th. Finally, Evercore ISI reduced their target price on shares of Torm from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.50.

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.