437,158 Shares in Torm Plc $TRMD Acquired by Lind Value II ApS

Lind Value II ApS bought a new position in shares of Torm Plc (NASDAQ:TRMD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 437,158 shares of the company’s stock, valued at approximately $7,283,000. Torm accounts for about 3.2% of Lind Value II ApS’s holdings, making the stock its 7th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Apollon Wealth Management LLC lifted its stake in shares of Torm by 9.1% in the first quarter. Apollon Wealth Management LLC now owns 11,691 shares of the company’s stock worth $193,000 after buying an additional 972 shares in the last quarter. Midwest Professional Planners LTD. raised its holdings in Torm by 2.7% in the 1st quarter. Midwest Professional Planners LTD. now owns 68,441 shares of the company’s stock valued at $1,128,000 after acquiring an additional 1,814 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in Torm in the 1st quarter valued at about $69,000. Bank of New York Mellon Corp raised its holdings in Torm by 9.1% in the 1st quarter. Bank of New York Mellon Corp now owns 50,538 shares of the company’s stock valued at $833,000 after acquiring an additional 4,201 shares during the last quarter. Finally, Compound Planning Inc. raised its holdings in Torm by 22.4% in the 1st quarter. Compound Planning Inc. now owns 23,603 shares of the company’s stock valued at $389,000 after acquiring an additional 4,312 shares during the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

Torm Trading Up 1.4%

TRMD opened at $21.95 on Friday. Torm Plc has a one year low of $13.60 and a one year high of $26.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.30 and a current ratio of 2.57. The stock has a market capitalization of $2.06 billion, a PE ratio of 6.65 and a beta of 0.08. The business’s 50 day moving average price is $21.56 and its 200 day moving average price is $19.07.

Torm (NASDAQ:TRMD) last posted its earnings results on Thursday, August 14th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Torm had a return on equity of 15.73% and a net margin of 24.90%.The company had revenue of $208.20 million for the quarter, compared to the consensus estimate of $207.58 million. As a group, equities research analysts expect that Torm Plc will post 6.27 EPS for the current year.

Torm Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 22nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Friday, August 22nd. Torm’s dividend payout ratio (DPR) is presently 35.45%.

Wall Street Analyst Weigh In

TRMD has been the topic of a number of recent research reports. Evercore ISI set a $23.00 price objective on Torm and gave the stock an “outperform” rating in a research note on Thursday, August 14th. Pareto Securities lowered Torm from a “buy” rating to a “hold” rating in a report on Tuesday, August 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th. Finally, Fearnley Fonds lowered Torm from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.