Torm Plc (NASDAQ:TRMD) Short Interest Update

Torm Plc (NASDAQ:TRMD) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 655,620 shares, a drop of 38.5% from the June 30th total of 1,065,543 shares. Based on an average daily volume of 573,255 shares, the short-interest ratio is presently 1.1 days. Currently, 0.6% of the company’s stock are sold short.

Torm Trading Up 0.2%

Shares of NASDAQ:TRMD opened at $30.31 on Friday. The company has a 50 day moving average of $28.92 and a 200-day moving average of $28.29. The firm has a market cap of $3.09 billion, a P/E ratio of 8.91 and a beta of 0.10. Torm has a twelve month low of $18.00 and a twelve month high of $35.33. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35.

Torm (NASDAQ:TRMD) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.15). Torm had a net margin of 24.45% and a return on equity of 15.81%. The firm had revenue of $402.00 million for the quarter, compared to analyst estimates of $297.43 million.

Torm Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a $0.70 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 9.2%. Torm’s dividend payout ratio is presently 60.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRMD. Wall Street Zen raised Torm from a “buy” rating to a “strong-buy” rating in a report on Saturday. Pareto Securities downgraded shares of Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. Evercore reiterated an “outperform” rating and set a $37.00 target price on shares of Torm in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Torm in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Insider Buying and Selling

In related news, CEO Jacob Balslev Meldgaard sold 379,014 shares of Torm stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $31.94, for a total value of $12,105,707.16. Following the completion of the transaction, the chief executive officer directly owned 348,411 shares in the company, valued at approximately $11,128,247.34. This trade represents a 52.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Torm

Several institutional investors and hedge funds have recently bought and sold shares of TRMD. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Torm by 275.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,286 shares of the company’s stock worth $1,785,000 after acquiring an additional 66,992 shares in the last quarter. Norges Bank acquired a new stake in Torm during the fourth quarter valued at $24,830,000. Folketrygdfondet grew its stake in Torm by 174.0% in the fourth quarter. Folketrygdfondet now owns 238,662 shares of the company’s stock valued at $4,673,000 after purchasing an additional 151,563 shares in the last quarter. Fearnley Asset Management AS purchased a new position in Torm in the fourth quarter valued at about $4,048,000. Finally, Marnell Management LLC acquired a new position in Torm in the 4th quarter worth about $4,815,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

About Torm

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.