Weaver Consulting Group Buys New Holdings in Torm Plc $TRMD

Weaver Consulting Group acquired a new stake in Torm Plc (NASDAQ:TRMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $167,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRMD. Wealth Preservation Advisors LLC bought a new position in shares of Torm in the 1st quarter worth $69,000. CWM LLC raised its holdings in Torm by 1,712.3% during the first quarter. CWM LLC now owns 5,292 shares of the company’s stock worth $87,000 after buying an additional 5,000 shares during the last quarter. Kovack Advisors Inc. acquired a new position in Torm during the second quarter worth $174,000. Cetera Investment Advisers bought a new position in shares of Torm in the first quarter valued at $237,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Torm by 39.9% during the first quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock valued at $276,000 after buying an additional 4,776 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.

Torm Price Performance

Torm stock opened at $21.97 on Friday. Torm Plc has a 52 week low of $13.60 and a 52 week high of $23.67. The company’s 50 day moving average price is $21.71 and its two-hundred day moving average price is $19.69. The stock has a market cap of $2.07 billion, a P/E ratio of 8.08 and a beta of 0.06. The company has a quick ratio of 2.07, a current ratio of 2.37 and a debt-to-equity ratio of 0.36.

Torm (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.17. The company had revenue of $342.60 million during the quarter, compared to the consensus estimate of $258.49 million. Torm had a return on equity of 13.03% and a net margin of 21.37%. On average, equities analysts predict that Torm Plc will post 6.27 earnings per share for the current year.

Torm Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 20th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date is Thursday, November 20th. This is a positive change from Torm’s previous quarterly dividend of $0.40. Torm’s dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analyst Weigh In

TRMD has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th. Evercore ISI set a $23.00 price objective on Torm and gave the stock an “outperform” rating in a report on Thursday, August 14th. Fearnley Fonds upgraded Torm from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. Finally, Pareto Securities cut Torm from a “buy” rating to a “hold” rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Torm presently has an average rating of “Hold” and a consensus price target of $23.00.

Torm Profile

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.