SLT Holdings LLC Makes New Investment in Torm Plc $TRMD

SLT Holdings LLC acquired a new position in Torm Plc (NASDAQ:TRMD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,800 shares of the company’s stock, valued at approximately $601,000.

A number of other hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC lifted its holdings in Torm by 180.7% in the second quarter. Squarepoint Ops LLC now owns 22,214 shares of the company’s stock valued at $579,000 after acquiring an additional 14,300 shares during the period. Allianz Asset Management GmbH purchased a new position in Torm in the second quarter worth about $267,000. denkapparat Operations GmbH grew its stake in shares of Torm by 63.8% during the 2nd quarter. denkapparat Operations GmbH now owns 23,276 shares of the company’s stock valued at $607,000 after purchasing an additional 9,064 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Torm by 37.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 28,852 shares of the company’s stock valued at $757,000 after purchasing an additional 7,836 shares during the period. Finally, Headlands Technologies LLC grew its stake in shares of Torm by 75.3% during the 2nd quarter. Headlands Technologies LLC now owns 15,130 shares of the company’s stock valued at $394,000 after purchasing an additional 6,501 shares during the period. Hedge funds and other institutional investors own 73.89% of the company’s stock.

Wall Street Analyst Weigh In

TRMD has been the subject of several research reports. Weiss Ratings raised shares of Torm from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Evercore reissued an “outperform” rating and issued a $38.00 price objective on shares of Torm in a report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of Torm from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Torm presently has an average rating of “Buy” and a consensus price target of $38.00.

Insider Activity at Torm

In other news, CFO Kim Balle sold 20,000 shares of Torm stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $39.16, for a total transaction of $783,200.00. Following the transaction, the chief financial officer directly owned 23,043 shares of the company’s stock, valued at $902,363.88. The trade was a 46.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 42,533 shares of company stock valued at $1,643,225 over the last 90 days. 0.37% of the stock is owned by company insiders.

Torm Trading Down 3.1%

NASDAQ:TRMD opened at $38.69 on Friday. 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 $3.95 billion, a price-to-earnings ratio of 6.57 and a beta of 0.07. Torm Plc has a one year low of $19.30 and a one year high of $41.86. The business has a fifty day moving average price of $34.74 and a 200-day moving average price of $31.56.

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

Torm Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a $2.40 dividend. This represents a $9.60 annualized dividend and a dividend yield of 24.8%. This is an increase from Torm’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, September 10th. Torm’s dividend payout ratio is 115.49%.

About Torm

TORM plc is a Denmark-based international shipping company that owns and operates product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and naphtha, as well as other clean petroleum and chemical products for customers worldwide.

TORM manages a fleet of tankers across several size classes, including medium-range and larger vessels. Its activities cover commercial and technical vessel management, chartering, and the transportation of liquid cargoes between major production, refining and consumption markets.

Founded in 1889, TORM has its roots in Denmark and has developed into a global product tanker operator serving routes across the Atlantic, Pacific, Middle East and Asia-Pacific regions.