PSI Advisors LLC Grows Stock Position in TORM plc (NASDAQ:TRMD)

PSI Advisors LLC grew its holdings in shares of TORM plc (NASDAQ:TRMD) by 80.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,665 shares of the company’s stock after purchasing an additional 7,855 shares during the quarter. PSI Advisors LLC’s holdings in TORM were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI purchased a new stake in shares of TORM during the 2nd quarter valued at about $26,000. Fifth Third Bancorp purchased a new stake in shares of TORM during the 2nd quarter valued at about $43,000. Syquant Capital Sas purchased a new stake in shares of TORM during the 2nd quarter valued at about $46,000. Headlands Technologies LLC purchased a new stake in shares of TORM during the 1st quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of TORM during the 2nd quarter valued at about $78,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

TORM Stock Down 1.3 %

TORM stock opened at $27.18 on Thursday. The firm has a 50 day moving average of $34.11 and a 200 day moving average of $35.69. TORM plc has a 12-month low of $26.10 and a 12-month high of $40.47. 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 released its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The company had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same period in the prior year, the firm posted $2.14 EPS. On average, analysts expect that TORM plc will post 7.12 earnings per share for the current fiscal year.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 26.49%. This is an increase from TORM’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. TORM’s dividend payout ratio is presently 67.44%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of TORM from $45.00 to $48.00 and gave the stock 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.