Stephens Inc. AR Sells 14,841 Shares of TORM plc (NASDAQ:TRMD)

Stephens Inc. AR decreased its holdings in shares of TORM plc (NASDAQ:TRMD) by 29.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,355 shares of the company’s stock after selling 14,841 shares during the quarter. Stephens Inc. AR’s holdings in TORM were worth $1,209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRMD. National Bank of Canada FI acquired a new stake in shares of TORM in the 2nd quarter valued at approximately $26,000. Fifth Third Bancorp bought a new stake in shares of TORM in the 2nd quarter valued at $43,000. Syquant Capital Sas acquired a new stake in TORM during the 2nd quarter worth $46,000. Headlands Technologies LLC acquired a new position in TORM in the first quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of TORM during the second quarter worth about $78,000. 73.89% of the stock is owned by institutional investors.

TORM Stock Performance

Shares of NASDAQ TRMD opened at $25.49 on Tuesday. TORM plc has a 12 month low of $25.22 and a 12 month high of $40.47. The company has a market capitalization of $2.08 billion, a P/E ratio of 3.27 and a beta of 0.27. The stock has a 50 day moving average of $32.25 and a 200-day moving average of $35.27. The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. The company had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same quarter in the previous year, the company posted $2.14 earnings per share. As a group, equities research analysts predict that TORM plc will post 7.12 EPS for the current year.

TORM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 28.25%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from TORM’s previous quarterly dividend of $1.50. TORM’s payout ratio is presently 67.31%.

Wall Street Analyst Weigh In

TRMD has been the topic of several recent research reports. Evercore ISI lifted their price target on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Fearnley Fonds raised shares of TORM to a “hold” rating in a research report on Friday, September 27th.

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.