Torm (NASDAQ:TRMD) CFO Sells $783,200.00 in Stock

Torm Plc (NASDAQ:TRMD) CFO Kim Balle sold 20,000 shares of Torm stock in a transaction on Friday, September 18th. The shares were sold at an average price of $39.16, for a total value of $783,200.00. Following the completion of the transaction, the chief financial officer owned 23,043 shares in the company, valued at approximately $902,363.88. The trade was a 46.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Kim Balle also recently made the following trade(s):

• On Tuesday, September 22nd, Kim Balle sold 7,533 shares of Torm stock. The stock was sold at an average price of $36.35, for a total transaction of $273,824.55.
• On Monday, September 21st, Kim Balle sold 15,000 shares of Torm stock. The shares were sold at an average price of $39.08, for a total transaction of $586,200.00.

Torm Trading Down 0.6%

Torm stock opened at $34.42 on Thursday. The firm has a market cap of $3.51 billion, a PE ratio of 5.67 and a beta of 0.12. The stock’s 50 day simple moving average is $31.90 and its two-hundred day simple moving average is $30.22. Torm Plc has a 12 month low of $19.30 and a 12 month high of $38.73. The company has a current ratio of 2.27, a quick ratio of 1.97 and a debt-to-equity ratio of 0.33.

Torm (NASDAQ:TRMD) last released its earnings results on Wednesday, August 26th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). Torm had a return on equity of 27.24% and a net margin of 35.51%.The business had revenue of $662.80 million for the quarter, compared to analyst estimates of $499.01 million.

Torm Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $2.40 per share. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from Torm’s previous quarterly dividend of $0.70. This represents a $9.60 dividend on an annualized basis and a yield of 27.9%. Torm’s dividend payout ratio is presently 115.32%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in Torm by 0.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,064,258 shares of the company’s stock valued at $86,032,000 after acquiring an additional 21,280 shares in the last quarter. Norges Bank acquired a new stake in shares of Torm in the 4th quarter valued at $24,830,000. Sei Investments Co. acquired a new stake in shares of Torm in the 1st quarter valued at approximately $7,705,000. Marnell Management LLC acquired a new stake in Torm in the 4th quarter valued at approximately $4,815,000. Finally, Folketrygdfondet increased its position in Torm by 174.0% during the 4th quarter. Folketrygdfondet now owns 238,662 shares of the company’s stock valued at $4,673,000 after purchasing an additional 151,563 shares during the period. Hedge funds and other institutional investors own 73.89% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TRMD. Weiss Ratings raised Torm from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 11th. Wall Street Zen upgraded Torm from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Finally, Evercore reaffirmed an “outperform” rating and set a $38.00 target price on shares of Torm in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Torm presently has an average rating of “Buy” and a consensus target price of $38.00.

Torm Company Profile

TORM plc is an international product tanker company that transports refined oil products and other energy-related cargoes by sea. Its vessels carry products such as gasoline, jet fuel, diesel and other clean petroleum products between production, storage and consumption markets.

The company operates a fleet of product tankers across several size categories, including long-range, medium-range and Handysize vessels. TORM provides seaborne transportation services to oil companies, trading houses and other commercial customers, with operations serving major shipping routes and energy markets worldwide.

TORM traces its history to 1889 and is headquartered in Copenhagen, Denmark.