Public Employees Retirement System of Ohio Has $2.19 Million Stock Holdings in Torm Plc $TRMD

Public Employees Retirement System of Ohio lifted its position in shares of Torm Plc (NASDAQ:TRMD) by 153.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,203 shares of the company’s stock after purchasing an additional 47,386 shares during the quarter. Public Employees Retirement System of Ohio owned 0.08% of Torm worth $2,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC raised its stake in Torm by 2.6% during the 3rd quarter. NewEdge Advisors LLC now owns 18,109 shares of the company’s stock worth $373,000 after buying an additional 459 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Torm by 1.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company’s stock valued at $615,000 after purchasing an additional 477 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Torm by 3.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company’s stock valued at $431,000 after purchasing an additional 479 shares during the period. Midwest Professional Planners LTD. grew its position in shares of Torm by 0.5% in the 1st quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company’s stock valued at $2,553,000 after purchasing an additional 495 shares during the period. Finally, Geode Capital Management LLC increased its stake in Torm by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock worth $1,385,000 after purchasing an additional 611 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

Torm Stock Up 0.2%

TRMD stock opened at $30.31 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 1.20. The stock has a market capitalization of $3.09 billion, a P/E ratio of 8.91 and a beta of 0.10. Torm Plc has a fifty-two week low of $18.00 and a fifty-two week high of $35.33. The business has a 50-day moving average of $28.92 and a 200-day moving average of $28.29.

Torm (NASDAQ:TRMD) last released its earnings results on Wednesday, May 13th. The company reported $1.18 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 during the quarter, compared to the consensus estimate of $297.43 million.

Torm Dividend Announcement

The firm also recently disclosed 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 (DPR) is 60.00%.

Insider Activity at Torm

In other news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total value of $5,495,295.90. Following the sale, the chief executive officer owned 348,411 shares of the company’s stock, valued at $11,253,675.30. The trade was a 32.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Wednesday, July 15th. Pareto Securities cut shares of Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Torm from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Evercore restated an “outperform” rating and set a $37.00 price objective on shares of Torm in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Torm presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.