Aristides Capital LLC Makes New Investment in TORM plc (NASDAQ:TRMD)

Aristides Capital LLC acquired a new position in TORM plc (NASDAQ:TRMD) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,333 shares of the company’s stock, valued at approximately $256,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Creekmur Asset Management LLC purchased a new position in shares of TORM in the fourth quarter worth about $27,000. PSI Advisors LLC purchased a new position in shares of TORM in the fourth quarter worth about $30,000. Scarborough Advisors LLC purchased a new position in shares of TORM in the fourth quarter worth about $37,000. Headlands Technologies LLC purchased a new position in shares of TORM in the first quarter worth about $51,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of TORM by 575.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,919 shares of the company’s stock worth $58,000 after purchasing an additional 1,635 shares in the last quarter. Institutional investors own 73.89% of the company’s stock.

Analysts Set New Price Targets

Separately, Evercore ISI upped 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.

TORM Price Performance

TORM stock traded down $0.05 during midday trading on Friday, reaching $37.50. 446,775 shares of the stock were exchanged, compared to its average volume of 455,251. The company’s fifty day moving average is $37.37 and its 200-day moving average is $35.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.37 and a current ratio of 2.60. TORM plc has a 52 week low of $22.80 and a 52 week high of $40.47.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.13). The company had revenue of $444.10 million during the quarter, compared to the consensus estimate of $332.61 million. TORM had a return on equity of 39.79% and a net margin of 44.74%. As a group, equities analysts forecast that TORM plc will post 7.36 EPS for the current year.

TORM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 22nd were paid a $1.50 dividend. This is a boost from TORM’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 16.00%. TORM’s dividend payout ratio is 55.30%.

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.