Key Points
- CFO Kim Balle sold 7,533 Torm shares for approximately $273,825 at an average price of $36.35, reducing his holdings by 93.66% to 510 shares. Including two earlier sales, Balle sold 42,533 shares worth about $1.64 million.
- Torm reported quarterly EPS of $3.25, slightly below the $3.31 analyst estimate, while revenue of $662.8 million exceeded the $499.01 million consensus forecast.
- The company raised its quarterly dividend to $2.40 per share, implying a $9.60 annualized payout and a 28% yield; analysts maintained an overall Buy consensus with an average $38 price target.
Torm Plc (NASDAQ:TRMD - Get Free Report) CFO Kim Balle sold 7,533 shares of Torm stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $36.35, for a total transaction of $273,824.55. Following the completion of the transaction, the chief financial officer owned 510 shares of the company's stock, valued at $18,538.50. The trade was a 93.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Kim Balle also recently made the following trade(s):
- On Monday, September 21st, Kim Balle sold 15,000 shares of Torm stock. The shares were sold at an average price of $39.08, for a total transaction of $586,200.00.
- On Friday, September 18th, Kim Balle sold 20,000 shares of Torm stock. The shares were sold at an average price of $39.16, for a total transaction of $783,200.00.
Torm Trading Down 0.3%
Shares of TRMD stock opened at $34.30 on Friday. The company's fifty day simple moving average is $31.99 and its two-hundred day simple moving average is $30.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.27 and a quick ratio of 1.97. Torm Plc has a 1 year low of $19.30 and a 1 year high of $38.73. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 5.65 and a beta of 0.12.
Torm (NASDAQ:TRMD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing analysts' consensus estimates of $3.31 by ($0.06). Torm had a return on equity of 27.24% and a net margin of 35.51%.The company had revenue of $662.80 million during the quarter, compared to the consensus estimate of $499.01 million.
Torm Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were given a dividend of $2.40 per share. This is a boost from Torm's previous quarterly dividend of $0.70. This represents a $9.60 annualized dividend and a dividend yield of 28.0%. The ex-dividend date was Thursday, September 10th. Torm's dividend payout ratio (DPR) is currently 115.49%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Optiver Holding B.V. bought a new stake in Torm during the first quarter valued at approximately $67,000. Hilton Head Capital Partners LLC bought a new position in shares of Torm in the 4th quarter worth $121,000. Bank of New York Mellon Corp purchased a new stake in shares of Torm during the 1st quarter valued at $228,000. The Manufacturers Life Insurance Company bought a new stake in shares of Torm during the 1st quarter worth $252,000. Finally, Allianz Asset Management GmbH purchased a new position in Torm in the second quarter worth $267,000. Hedge funds and other institutional investors own 73.89% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Torm from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 19th. Weiss Ratings raised shares of Torm from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 11th. Finally, Evercore restated an "outperform" rating and set a $38.00 price target on shares of Torm in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $38.00.
Get Our Latest Research Report on TRMD
Trending Headlines about Torm
Here are the key news stories impacting Torm this week:
- Positive Sentiment: Hafnia increased its stake to approximately 19.85%. Hafnia agreed to acquire 1.7 million TORM Class A shares at $34 each, representing about 1.66% of TORM’s outstanding shares. The purchase by a major industry participant could provide strategic support and signals confidence in TORM’s value. Hafnia Acquisition of Additional TORM Shares
- Neutral Sentiment: Short-interest data showed no reported shares short and a zero-day days-to-cover ratio. While this suggests limited disclosed bearish positioning, the unusual reading may reflect a reporting or data-timing issue rather than a meaningful change in investor sentiment.
- Neutral Sentiment: TORM issued 97,089 Class A shares after employees exercised restricted share units. The resulting dilution is small, but the capital increase modestly expands the share count. TORM Capital Increase From RSU Exercise
- Negative Sentiment: CFO Kim Balle sold 42,533 TORM shares across three transactions. The sales totaled approximately $1.64 million and reduced his direct holdings by substantial percentages, potentially weighing on sentiment because of the scale of the insider selling. SEC Insider Ownership Filing
About Torm
(
Get Free Report)
TORM plc is an international product tanker company that transports refined oil products and other energy-related cargoes by sea. Its vessels carry products such as gasoline, jet fuel, diesel and other clean petroleum products between production, storage and consumption markets.
The company operates a fleet of product tankers across several size categories, including long-range, medium-range and Handysize vessels. TORM provides seaborne transportation services to oil companies, trading houses and other commercial customers, with operations serving major shipping routes and energy markets worldwide.
TORM traces its history to 1889 and is headquartered in Copenhagen, Denmark.
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