Universal Beteiligungs und Servicegesellschaft mbH Trims Position in Torm Plc $TRMD

Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Torm Plc (NASDAQ:TRMD) by 73.9% during the third quarter, Holdings Channel.com reports. The fund owned 24,294 shares of the company’s stock after selling 68,923 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Torm were worth $501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TRMD. Norges Bank purchased a new stake in shares of Torm in the 2nd quarter worth $20,998,000. Brevan Howard Capital Management LP purchased a new position in shares of Torm in the 2nd quarter valued at $7,523,000. Lind Value II ApS bought a new position in shares of Torm in the 2nd quarter worth $7,283,000. Royal Bank of Canada raised its position in shares of Torm by 1,346.6% in the 1st quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock worth $1,438,000 after acquiring an additional 81,251 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Torm by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock worth $1,385,000 after purchasing an additional 611 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Fearnley Fonds upgraded Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Torm has an average rating of “Hold” and a consensus price target of $23.00.

Torm Price Performance

Shares of TRMD stock opened at $24.52 on Tuesday. Torm Plc has a fifty-two week low of $13.60 and a fifty-two week high of $24.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 9.01 and a beta of 0.04. The stock’s 50-day simple moving average is $21.37 and its 200-day simple moving average is $21.19.

Torm (NASDAQ:TRMD) last released its earnings results on Thursday, November 6th. The company reported $0.77 EPS 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 during the quarter, compared to analysts’ expectations of $258.49 million. As a group, equities analysts forecast that Torm Plc will post 6.27 earnings per share for the current fiscal year.

Torm Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 20th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 10.1%. The ex-dividend date was Thursday, November 20th. This is a boost from Torm’s previous quarterly dividend of $0.40. Torm’s dividend payout ratio (DPR) is presently 66.54%.

About Torm

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.