PSI Advisors LLC Purchases 6,565 Shares of TORM plc (NASDAQ:TRMD)

PSI Advisors LLC grew its holdings in shares of TORM plc (NASDAQ:TRMD) by 202.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,810 shares of the company’s stock after purchasing an additional 6,565 shares during the quarter. PSI Advisors LLC’s holdings in TORM were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TRMD. Norges Bank bought a new stake in shares of TORM during the 4th quarter valued at $22,306,000. Vanguard Group Inc. boosted its holdings in shares of TORM by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after purchasing an additional 85,937 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of TORM during the first quarter valued at about $2,836,000. International Assets Investment Management LLC bought a new stake in shares of TORM in the fourth quarter worth about $2,000,000. Finally, Midwest Professional Planners LTD. purchased a new stake in shares of TORM in the first quarter worth about $1,437,000. Institutional investors own 73.89% of the company’s stock.

TORM Price Performance

Shares of NASDAQ TRMD traded down $0.53 during mid-day trading on Thursday, hitting $37.37. 1,018,693 shares of the company’s stock traded hands, compared to its average volume of 672,336. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94. TORM plc has a 1 year low of $24.11 and a 1 year high of $40.47. The company’s 50-day moving average is $37.51 and its two-hundred day moving average is $35.85. The company has a market capitalization of $3.05 billion, a P/E ratio of 4.72 and a beta of 0.27.

TORM (NASDAQ:TRMD) last posted its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. TORM had a return on equity of 37.63% and a net margin of 43.81%. During the same period last year, the company earned $2.14 EPS. On average, equities analysts anticipate that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $7.20 annualized dividend and a dividend yield of 19.27%. This is an increase from TORM’s previous quarterly dividend of $1.50. TORM’s dividend payout ratio is currently 66.29%.

Analyst Ratings Changes

Separately, Evercore ISI lifted their price objective on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Company 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.