DekaBank Deutsche Girozentrale Boosts Position in TORM plc (NASDAQ:TRMD)

DekaBank Deutsche Girozentrale lifted its stake in TORM plc (NASDAQ:TRMD - Free Report) by 1,166.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,000 shares of the company's stock after acquiring an additional 35,000 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in TORM were worth $1,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TRMD. National Bank of Canada FI bought a new position in shares of TORM during the second quarter worth $26,000. Fifth Third Bancorp purchased a new position in TORM during the 2nd quarter valued at $43,000. Syquant Capital Sas purchased a new stake in TORM in the second quarter worth $46,000. Headlands Technologies LLC purchased a new stake in shares of TORM during the first quarter valued at $51,000. Finally, Point72 Hong Kong Ltd bought a new stake in TORM during the 2nd quarter valued at about $78,000. 73.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

TORM Trading Down 1.0 %

Shares of TRMD traded down $0.25 during midday trading on Friday, reaching $25.75. The company had a trading volume of 738,524 shares, compared to its average volume of 1,013,538. The firm has a 50 day simple moving average of $32.51 and a 200-day simple moving average of $35.31. The company has a quick ratio of 2.94, a current ratio of 3.18 and a debt-to-equity ratio of 0.53. The stock has a market cap of $2.10 billion, a PE ratio of 3.30 and a beta of 0.27. TORM plc has a 1-year low of $25.47 and a 1-year high of $40.47.

TORM (NASDAQ:TRMD - Get Free Report) last announced its earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.03. The company had revenue of $437.70 million during 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 last year, the business posted $2.14 EPS. Research analysts forecast that TORM plc will post 7.12 EPS for the current fiscal year.

TORM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a dividend of $1.80 per share. This is a positive change from TORM's previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. This represents a $7.20 annualized dividend and a yield of 27.96%. TORM's payout ratio is 67.31%.

About TORM

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.