Apollon Wealth Management LLC Makes New Investment in TORM plc (NASDAQ:TRMD)

Apollon Wealth Management LLC acquired a new position in TORM plc (NASDAQ:TRMD) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,500 shares of the company’s stock, valued at approximately $291,000.

A number of other institutional investors have also added to or reduced their stakes in TRMD. SG Americas Securities LLC bought a new position in TORM in the first quarter worth $115,000. Swiss National Bank increased its holdings in shares of TORM by 18.4% during the first quarter. Swiss National Bank now owns 79,609 shares of the company’s stock valued at $2,700,000 after acquiring an additional 12,353 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 acquiring an additional 85,937 shares in the last quarter. Aristides Capital LLC bought a new position in shares of TORM during the first quarter valued at $256,000. Finally, Virtu Financial LLC bought a new position in shares of TORM during the first quarter valued at $598,000. Institutional investors own 73.89% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMD has been the subject of several analyst reports. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th. Evercore ISI raised their price target on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group reduced their price target on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday.

TORM Stock Down 3.3 %

TORM stock opened at $22.85 on Monday. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. TORM plc has a one year low of $22.72 and a one year high of $40.47. The business’s fifty day moving average is $30.20 and its 200 day moving average is $34.64.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. TORM had a return on equity of 34.45% and a net margin of 43.81%. The company had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $325.38 million. During the same period last year, the firm posted $2.14 earnings per share. Equities analysts anticipate that TORM plc will post 6.41 earnings per share for the current fiscal year.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be given a dividend of $0.876 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 15.33%. TORM’s dividend payout ratio (DPR) is presently 68.05%.

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.