Torm (NASDAQ:TRMD) CEO Jacob Balslev Meldgaard Sells 170,133 Shares

by · The Cerbat Gem

Torm Plc (NASDAQ:TRMD – Get Free Report) CEO Jacob Balslev Meldgaard sold 170,133 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $32.30, for a total transaction of $5,495,295.90. Following the transaction, the chief executive officer directly owned 348,411 shares of the company’s stock, valued at approximately $11,253,675.30. This trade represents a 32.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jacob Balslev Meldgaard also recently made the following trade(s):

  • On Monday, May 18th, Jacob Balslev Meldgaard sold 379,014 shares of Torm stock. The stock was sold at an average price of $31.94, for a total transaction of $12,105,707.16.

Torm Stock Performance

Shares of Torm stock traded up $1.02 during trading on Wednesday, hitting $32.70. 1,083,703 shares of the company’s stock were exchanged, compared to its average volume of 806,633. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. The business has a 50-day simple moving average of $29.65 and a 200-day simple moving average of $25.38. Torm Plc has a 52-week low of $15.79 and a 52-week high of $35.33. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 9.62 and a beta of 0.14.

Torm (NASDAQ:TRMD – Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.15). The firm had revenue of $402.00 million for the quarter, compared to analyst estimates of $297.43 million. Torm had a net margin of 24.45% and a return on equity of 15.81%.

Torm Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 8.6%. The ex-dividend date is Thursday, May 28th. Torm’s dividend payout ratio (DPR) is currently 60.00%.

Institutional Trading of Torm

Several institutional investors have recently modified their holdings of TRMD. Quarry LP acquired a new stake in shares of Torm in the third quarter valued at about $35,000. Tower Research Capital LLC TRC acquired a new stake in shares of Torm in the second quarter valued at about $46,000. Wexford Capital LP acquired a new stake in shares of Torm in the third quarter valued at about $120,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Torm in the fourth quarter valued at about $121,000. Finally, Invesco Ltd. acquired a new stake in shares of Torm in the second quarter valued at about $190,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analyst Upgrades and Downgrades

TRMD has been the topic of several analyst reports. Evercore set a $35.00 price target on shares of Torm in a research report on Tuesday, April 21st. Pareto Securities lowered shares of Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a research report on Friday, April 17th. Finally, Wall Street Zen upgraded shares of Torm from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Read Our Latest Stock Report on TRMD

About Torm

(Get Free Report)

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.

Further Reading