Seven Grand Managers LLC Invests $2.05 Million in TORM plc (NASDAQ:TRMD)

Seven Grand Managers LLC bought a new position in TORM plc (NASDAQ:TRMD) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,000 shares of the company’s stock, valued at approximately $2,051,000. Seven Grand Managers LLC owned 0.07% of TORM at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TRMD. Marshall Wace LLP increased its stake in TORM by 860.9% in the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after acquiring an additional 1,281,176 shares during the period. Acadian Asset Management LLC grew its stake in shares of TORM by 320.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after purchasing an additional 964,801 shares during the period. Hsbc Holdings PLC acquired a new position in shares of TORM in the 2nd quarter worth approximately $9,619,000. Renaissance Technologies LLC lifted its position in shares of TORM by 38.9% during the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock worth $25,945,000 after buying an additional 187,300 shares during the period. Finally, Vanguard Group Inc. boosted its stake in TORM by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after buying an additional 85,937 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

TORM Price Performance

Shares of TRMD opened at $30.11 on Thursday. TORM plc has a one year low of $26.10 and a one year high of $40.47. The business’s 50 day simple moving average is $34.89 and its 200-day simple moving average is $35.91. 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 (NASDAQ:TRMD) last posted its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the previous year, the firm earned $2.14 earnings per share. As a group, equities analysts anticipate that TORM plc will post 7.12 EPS for the current fiscal year.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were paid a $1.80 dividend. The ex-dividend date was Thursday, August 29th. This is an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a dividend yield of 23.91%. TORM’s payout ratio is currently 67.44%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRMD. Evercore ISI lifted their price objective on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds raised shares of TORM to a “hold” rating in a report on Friday, September 27th.

About TORM

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.