Herr Investment Group LLC Purchases New Holdings in TORM plc (NASDAQ:TRMD)

Herr Investment Group LLC acquired a new position in shares of TORM plc (NASDAQ:TRMD) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 10,000 shares of the company’s stock, valued at approximately $388,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. National Bank of Canada FI acquired a new position in shares of TORM during the second quarter worth about $26,000. Creekmur Asset Management LLC acquired a new position in TORM during the 4th quarter worth approximately $27,000. Scarborough Advisors LLC acquired a new position in TORM during the 4th quarter worth approximately $37,000. Fifth Third Bancorp purchased a new position in shares of TORM during the 2nd quarter worth approximately $43,000. Finally, Syquant Capital Sas acquired a new stake in shares of TORM in the 2nd quarter valued at approximately $46,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Evercore ISI upped their price objective on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

TORM Stock Performance

Shares of TRMD opened at $36.44 on Friday. The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53. TORM plc has a 52-week low of $25.28 and a 52-week high of $40.47. The company has a 50-day simple moving average of $36.68 and a 200-day simple moving average of $36.03.

TORM (NASDAQ:TRMD) last posted its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (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 the consensus estimate of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same period last year, the firm earned $2.14 EPS. On average, analysts predict that TORM plc will post 7.1 earnings per share for the current year.

TORM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were issued a $1.80 dividend. 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 19.76%. TORM’s dividend payout ratio is 66.41%.

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.