Insider Selling: Torm (NASDAQ:TRMD) CFO Sells 15,000 Shares of Stock

Torm Plc (NASDAQ:TRMD) CFO Kim Balle sold 15,000 shares of the stock in a transaction on Monday, September 21st. The shares were sold at an average price of $39.08, for a total transaction of $586,200.00. Following the sale, the chief financial officer directly owned 8,043 shares of the company’s stock, valued at $314,320.44. The trade was a 65.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $36.35, for a total value of $273,824.55.
• On Friday, September 18th, Kim Balle sold 20,000 shares of Torm stock. The shares were sold at an average price of $39.16, for a total value of $783,200.00.

Torm Stock Performance

Shares of TRMD stock opened at $34.42 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.27 and a quick ratio of 1.97. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 5.67 and a beta of 0.12. Torm Plc has a 1 year low of $19.30 and a 1 year high of $38.73. The business has a fifty day moving average of $31.90 and a 200 day moving average of $30.22.

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

Torm Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $2.40 dividend. This is a boost from Torm’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $9.60 annualized dividend and a yield of 27.9%. Torm’s dividend payout ratio is currently 115.32%.

Institutional Investors Weigh In On Torm

A number of large investors have recently added to or reduced their stakes in TRMD. Optiver Holding B.V. acquired a new stake in Torm during the 1st quarter worth about $67,000. Hilton Head Capital Partners LLC bought a new position in shares of Torm during the fourth quarter worth about $121,000. Savant Capital LLC acquired a new position in shares of Torm during the fourth quarter worth approximately $203,000. Bank of New York Mellon Corp acquired a new position in Torm during the first quarter worth $228,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Torm in the first quarter valued at approximately $252,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TRMD shares. Weiss Ratings raised Torm from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 11th. Wall Street Zen raised shares of Torm from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Finally, Evercore restated an “outperform” rating and issued a $38.00 price target on shares of Torm in a 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $38.00.

About Torm

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.