DekaBank Deutsche Girozentrale Sells 55,000 Shares of TORM plc (NASDAQ:TRMD)

DekaBank Deutsche Girozentrale lowered its position in TORM plc (NASDAQ:TRMD) by 94.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,000 shares of the company’s stock after selling 55,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in TORM were worth $116,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in shares of TORM by 320.5% in the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after acquiring an additional 964,801 shares during the period. Norges Bank purchased a new stake in TORM during the 4th quarter valued at approximately $22,306,000. Vanguard Group Inc. raised its position in shares of TORM by 7.9% during the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after buying an additional 85,937 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of TORM in the first quarter worth $2,836,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of TORM during the second quarter worth $1,658,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Evercore ISI lifted their price target on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd.

TORM Price Performance

Shares of TORM stock opened at $35.11 on Friday. The stock has a 50 day moving average of $36.64 and a 200 day moving average of $36.07. 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 plc has a 12 month low of $25.28 and a 12 month high of $40.47.

TORM (NASDAQ:TRMD) last posted 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. TORM had a return on equity of 36.06% and a net margin of 43.81%. The firm had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. During the same period in the prior year, the company earned $2.14 EPS. As a group, equities analysts expect that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 20.51%. This is a boost from TORM’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, August 29th. TORM’s dividend payout ratio is currently 66.41%.

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.