International Assets Investment Management LLC Makes New Investment in TORM plc (NASDAQ:TRMD)

International Assets Investment Management LLC bought a new position in TORM plc (NASDAQ:TRMD - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 215,249 shares of the company's stock, valued at approximately $7,359,000. International Assets Investment Management LLC owned approximately 0.26% of TORM at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. U S Global Investors Inc. lifted its position in TORM by 39.5% during the third quarter. U S Global Investors Inc. now owns 9,995 shares of the company's stock valued at $342,000 after purchasing an additional 2,829 shares during the last quarter. Seven Grand Managers LLC purchased a new stake in shares of TORM during the 3rd quarter valued at $2,051,000. Atomi Financial Group Inc. lifted its holdings in shares of TORM by 22.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 15,461 shares of the company's stock worth $529,000 after acquiring an additional 2,784 shares during the last quarter. Point72 Asset Management L.P. bought a new position in TORM in the second quarter valued at $744,000. Finally, Lighthouse Investment Partners LLC raised its position in TORM by 276.2% during the second quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company's stock valued at $4,267,000 after purchasing an additional 80,793 shares in the last quarter. 73.89% of the stock is owned by institutional investors.

TORM Stock Performance

Shares of TRMD traded down $0.25 during mid-day trading on Friday, hitting $25.75. 583,294 shares of the company's stock traded hands, compared to its average volume of 741,229. The business's 50-day moving average price is $32.76 and its 200-day moving average price is $35.33. TORM plc has a 1 year low of $25.47 and a 1 year high of $40.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. The business had revenue of $437.70 million for the quarter, compared to analysts' expectations of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same period in the previous year, the firm posted $2.14 EPS. As a group, equities analysts predict that TORM plc will post 7.12 earnings per share for the current year.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 27.96%. This is a positive change from TORM's previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. TORM's dividend payout ratio (DPR) is presently 67.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TRMD shares. Fearnley Fonds raised TORM to a "hold" rating in a report on Friday, September 27th. Evercore ISI upped their price objective on shares of TORM from $45.00 to $48.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd.

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.